# HSBC sees "No Fundamental Reason" for Further South African Rand Weakness

> HSBC analysts said on December 17 there is no fundamental reason for further rand weakness, noting the rand had rallied for three straight days after the Fed decision. USD/ZAR was near the bottom of its 15.70 to 16.36 December range. HSBC estimates suggest the currency is roughly fairly valued.

- Date: 2021-12-17 · published 2021-12-17T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/43906-hsbc-sees-no-fundamental-reason-for-further-south-african-rand-weakness
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stabilising rand reduces pressure on the cost of dollar-priced feed imports into South Africa. The forecast points to a limited further rise in the dollar against the rand.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/16336-hsbc-sees-no-fundamental-reason-for-further-south-african-rand-weakness

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.