7/3/2023 0 Comments Zar x recovery reviewWhile the pound has traded buoyantly in its own right thanks to supportive UK economic data, GBP/ZAR’s recovery owes itself to a relenting rand that has shifted onto the back foot in deference to a rallying dollar this week. This week’s rally has lifted GBP/ZAR briefly above 20.00 from 19.50, and appeared to draw a line under what was a 7% fall over the two week period to September 10. The pound to rand exchange rate has rallied from three-month lows and could go higher in September, although such strength could be misleading because fundamental factors and forecasts from institutions like Goldman Sachs suggest it could slide back to 19.35 and below in October and beyond.
0 Comments
Leave a Reply. |