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A Counterpoint Asset Management executive said the rand could overshoot its purchasing-power-parity fair value of about 13.50 and strengthen toward 11 per dollar. He cited foreign buying of local bonds and high commodity prices as drivers, though he said this is not the firm's base case.
This is an analyst forecast rather than a new event, but it signals that rand strength could persist and keep dollar-priced feed imports cheaper for South African buyers.
moneyweb.co.zaJustin Brown, CitywireMay 28, 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.
