South African Rand Dollar Price Forecast: USD/ZAR Poised for Bullish Breakout? dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
South African Rand Dollar Price Forecast: USD/ZAR Inflationary Battle Persists Ahead of SARB and FOMC
USD/ZAR Talking Points:
Fundamentals may further catalyze price action ahead of FOMC and SARB announcements
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The South African Rand has maintained its strength against major currencies as the US Dollar struggles to recover. With risk sentiment currently supporting Emerging Market (EM) currencies, rising commodity prices have further assisted in the catalyzation of price action, allowing the volatile Rand to maintain its bullish narrative, at least for now.
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South African Rand Dollar Price Forecast: USD/ZAR Bounces Between Key Levels
Rand Price Outlook: Advertisement
The South African Rand continues to maintain a certain degree of strength against its major counterparts despite the vaccination program lagging behind both developed and Emerging Markets (EM). Despite the recent reopening of the economy, cash strapped power utility Eskom struggles to keep the lights on, resulting in the reimplementation of load shedding (rolling blackouts), an issue that has hindered economic output for the past decade, placing the economy in a recession prior to the Coronavirus pandemic.
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