It looks like the #USDZAR South African Rand will test R16.70 in the very near future.
If this happens, brace yourself for even a weaker Rand.
However, slide in Rand is also because of falling commodity prices.
This fall may be at a turning point right now with the dollar that might have reached a top which will boost commodity prices.
Thus, short term forcast for Rand to weaken to R16.70 levels.
Keep your eye on the DXY and commodity prices for better view on direction of Rand.
If this happens, brace yourself for even a weaker Rand.
However, slide in Rand is also because of falling commodity prices.
This fall may be at a turning point right now with the dollar that might have reached a top which will boost commodity prices.
Thus, short term forcast for Rand to weaken to R16.70 levels.
Keep your eye on the DXY and commodity prices for better view on direction of Rand.