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MUFG Bank expects USD/ZAR to rise toward 15.40 by year-end after the rand weakened sharply in September. The forecast cites global growth worries, supply constraints, a possible Evergrande default and a more hawkish Fed.
MUFG sees the rand returning to its August high of 15.40 in Q4.
A forecast of a weaker rand suggests higher rand costs for imported feed ingredients through year-end. The forecast is an analyst view rather than a new supply or demand event.
octaafrica.netOct 4, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
