# Rand rout on the cards as Citigroup, Morgan Stanley’s bearish bets stack up

> Citigroup and Morgan Stanley say the rand's strong quarter will not last, citing South Africa's recession, junk credit ratings and political turmoil. The rand has gained 3.1% against the dollar since end-March, but its predicted return for the next quarter is negative 2.1%.

- Date: 2017-06-30 · published 2017-06-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/70781-rand-rout-on-the-cards-as-citigroup-morgan-stanley-s-bearish-bets-stack-up
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A reversal in the rand would raise the local cost of imported feed inputs for South African buyers. The forecast is a currency outlook with no direct effect on global grain supply.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- biznews.com: https://www.biznews.com/briefs/rand-citigroup-morgan-stanley

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