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Commerzbank technical analysts say the rand has topped out after strong gains and is poised for a deeper correction. USD/ZAR is seen rising toward 14.42 and possibly 14.59 to 14.68.
Investec sees a downside case as more likely, and Morgan Stanley has begun to doubt the rand outlook over debt concerns.
A weaker rand would raise the dollar cost of South African imports and could add to pressure on local feed buyers' input costs.
poundsterlinglive.comJames SkinnerJul 30, 2019Not 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.
