# The South African Rand Already Has Many Positives Priced In

> Analysts at HSBC say the rand's strong gains over the past year came from an improving trade balance and a previous extreme undervaluation. They argue that both drivers are largely exhausted, leaving only weak valuation support for the currency.

- Date: 2017-05-31 · published 2017-05-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/71288-the-south-african-rand-already-has-many-positives-priced-in
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

If the rand's rally has run its course, the currency may weaken from here, which would raise the local cost of imported feed ingredients.

## Read by commodity

- USDZAR: neutral

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/6886-the-south-african-rand-already-has-many-positives-priced-in

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