USD/ZAR expected to tick lower near term – Danske Bank

In view of Chief Analyst Christin Tuxen at Danske Bank, the South African Rand (ZAR) is seen appreciating in the near term.

Key Quotes

“Following the developments in South Africa we maintain our projection for USD/ZAR at 13.30 at end-September, despite the failure to remove president Zuma”.

“More long-term the focus will be on the flagging support for the ANC party in the polls in the run-up to the election in 2019 especially in light of subdued economic performance and allegations of abuse of power”.