36 days ago • Posted by Jasper Lawler

South African Rand (USD/ZAR): Support becomes Resistance

South Africa’s currency has recovered all its losses since it slumped to a record in April last year, and then some. Strong commodity prices and the global search for yield should support the narrative for further gains in coming months. Domestic fiscal metrics -- though still far from healthy -- are improving along with terms of trade, while the government’s crackdown on corruption is also fueling positive sentiment.

South Africa’s currency has recovered all its losses since it slumped to a record in April last year, and then some. Strong commodity prices and the global search for yield should support the narrative for further gains in coming months. Domestic fiscal metrics -- though still far from healthy -- are improving along with terms of trade, while the government’s crackdown on corruption is also fueling positive sentiment.

#Forex
South African Rand (USD/ZAR): Support becomes Resistance
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