South African Rand set for further losses against its major crosses

Hi everyone,

still expect rand to weaken further against major crosses in near future. Rand did manage to gain little bit of ground today as expected. This may be caused due to some fresh buying of rand (higher interest rate) but sooner or later the south african rand will weaken even further against major crosses.

I don't think that dollar strength is due to Euro fundamentals but I do believe that we are witnessing and will see US Fed tapering at regular intervals in 2014. I furthermore believe that US will soon follow SA reserve bank and start to increase their interest rates. Also expect the price of crude oil to start weakening soon to levels of $91 at least.

Be blessed!

South African Rand to strengten against major crosses in very short-term but faces further weakness!

Hi,

The South African rand may very well strengthen in the short-term against the major crosses including dollar, euro, pound and yen. This will however not last and expect further losses for the South African Rand against the major crosses towards the weekend/ opening next week!

Be blessed!