USD/ZAR to surge towards 17 on a break of big resistance at 16.35 – ING
|Economists at ING expect the rand to stay under pressure for the time being. Subsequently, USD/ZAR could reach the 17 level on a break past the stubborn resistance at 16.35.
Rising US real yields and the China slowdown weigh on emerging markets
“16.35 is big resistance for USD/ZAR, above which 17.00 beckons for later in the year.”
“Rising US real yields and the China slowdown continue to make the bear case for emerging markets.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.