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The rand is on track for its worst February in over a decade, down 4.4% against the dollar, yet it remains one of the top five emerging-market currencies this year. Carry appeal, a commodity rally and US-China trade progress have offset South Africa's political and fiscal risks, according to ING.
Strong carry demand and a firmer rand lower the local-currency cost of dollar-priced imports, which supports South African buyers, though the currency remains exposed to a possible credit downgrade.
moneyweb.co.zaColleen Goko, BloombergFeb 26, 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.
