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Anchor Capital says the rand remains out of favour after last week's political turmoil and weak GDP data showing a 3.2% contraction in Q1. The rand traded at R14.78 per dollar, which it considers outside its fair range, and the firm expects only a gradual recovery.
A persistently weak rand keeps South African feed import costs elevated, while a weaker US dollar provides only partial relief.
anchorcapital.co.zaanchorAdminJun 11, 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.
