Rand expected to weaken

Hanno Labuschagne

Journalist
Staff member
Joined
Sep 2, 2019
Messages
3,038
Rand expected to weaken

The good news for the rand is that commodity prices are hovering near an eight-year high. The bad news is that raw materials matter less for South Africa’s currency than movements in U.S. Treasury yields.

The correlation between the Bloomberg Industrial Metals Sub-Index and the rand has weakened to 0.2, from a peak of 0.7 in February.

The inverse relationship with U.S. Treasury yields is much stronger, at almost 0.6, the most in in four years, according to data compiled by Bloomberg.

[Bloomberg]
 

Binary_Bark

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Feb 24, 2016
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giphy.gif
 

Norrad

Expert Member
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Jul 27, 2004
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Still waiting for it to actually weaken. It's been orbiting R15 to the Dollar forever now. And rocketed up from its low of R19 to the Dollar when lockdown first started.
 

BBSA

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Jul 11, 2005
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18,527
Their assumption that Treasury yields is going to rise is wrong.
 

Pixies

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Jul 18, 2008
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56,648
Rand expected to weaken

The good news for the rand is that commodity prices are hovering near an eight-year high. The bad news is that raw materials matter less for South Africa’s currency than movements in U.S. Treasury yields.

The correlation between the Bloomberg Industrial Metals Sub-Index and the rand has weakened to 0.2, from a peak of 0.7 in February.

The inverse relationship with U.S. Treasury yields is much stronger, at almost 0.6, the most in in four years, according to data compiled by Bloomberg.

[Bloomberg]
About this time every year... Then back up in December.
 

hippynox

Active Member
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May 24, 2013
Messages
89
Would it be a good idea to put a small portion of your income into bitcoin then?:unsure:
 
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