# South African Rand to "Trade Rather Nervously" into Feb. 26 Budget: JP Morgan

> J.P. Morgan expects the South African rand to stay soft ahead of the February 26 budget, as investors await how ratings agencies will respond. Moody's is due to give its next verdict on March 27. JP Morgan forecasts 0.7% growth for South Africa in 2020.

- Date: 2020-01-28 · published 2020-01-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/55378-south-african-rand-to-trade-rather-nervously-into-feb-26-budget-jp-morgan
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Sovereign rating risk keeps the rand volatile, which affects the local cost of imported feed ingredients priced in dollars.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/12705-south-african-rand-to-trade-rather-nervously-into-feb-26-budget-jp-morgan

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