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RMB currency expert John Cairns warns the rand could weaken sharply as the Fed begins a rate-cutting cycle, citing four past cycles in which the rand weakened. His model puts the chance of a 30% or greater dollar/rand move in the next year at 47%.
He also notes the rand typically firms in the first months after a cut.
A sharp rand sell-off would raise the dollar cost of imported feed inputs for South African buyers, though analysts expect an initial rally.
businesstech.co.zaJul 25, 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.
