Even with a delay, our seasonal forecast on the trend of USDZAR is really happening with an acceleration started in late May that realigned the trend of this year with the history of the last 30 years. At this point, it is reasonable to expect a phase of lower stress for the Rand at least until August, the period that should precede a new bullish movement for USDZAR (thus weakening the Rand). This event seems to be confirmed by the near completion of the 110 week top cycle that has been intercepting a top of the market for years with a significant accuracy (Charts source: Metastock, Bloomberg).
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