# South African Rand Forecasts Lowered at Julius Baer

> Julius Baer lowered its South African rand forecasts, saying the currency has given back all gains made since Cyril Ramaphosa became ANC leader. Weak Q1 GDP, a May PMI contraction and a wider current account deficit were cited, alongside an emerging-market sell-off and trade tensions.

- Date: 2018-06-22 · published 2018-06-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/64821-south-african-rand-forecasts-lowered-at-julius-baer
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A persistently weaker rand keeps South African feed and energy import costs elevated, and the bank's view that the SARB is unlikely to hike this year limits near-term currency support.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/9316-zar-exchange-rate-forecasts-julius-baer

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