25 Mar 2011We expect the rand to weaken further against the dollar, especially H1:11 due to (1) a deteriorating domestic fundamental landscape, (2) less favourable market conditions and (3) broad-based dollar shortcovering. Our latest 2011 rand view is more bearish than our previous view as well as in relation to the forward curve and market consensus. We expect the rand to recoup some of its losses towards year-end but only because we expect renewed dollar weakness over this period.
https://www.grainsa.co.za/documents/25%20Mar%20ZAR%20Viewpoint%20March.pdf
