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They say there is no time like the present….
Well thats so true when it comes to the volatility of our rand against the major currencies of the world.
Below is a bit of Short, Medium and long term analysis of the rand against the dollar and makes for very interesting reading.
With the rand below R14 to the dollar there has never been a better time to hedge and secure the exchange rate you will have to pay for foreign artists!
There are two major events on the horizon which can cause the Rand to weaken substantially:
1. S&P Credit review in December (possible credit downgrade for South Africa looms)
2.US Federal Reserve is likely to raise interest rates in the US in December (currently priced at a 69% probability according to Bloomberg consensus of a 0.25% interest rate hike)
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