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Societe Generale, Credit Agricole and Citigroup are betting on a rand recovery as talk of removing President Zuma grows. The rand has lost about 4% since Zuma fired Finance Minister Gordhan and reached a two-month high on Wednesday.
Bullish positioning on the rand could strengthen the currency and lower local-currency costs of dollar-priced feed imports, but the outlook depends on how the ANC political situation resolves.
moneyweb.co.zaRobert Brand, BloombergMay 24, 2017Not 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.
