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Rand pullback?

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DEP
Super Contributor
Rand has be extremely strong in the past week, could pullback from here? look out for Rand Hedge shares...
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3 REPLIES 3
Wizard
Super Contributor
Looks that way. Gold should come down with it. Divergence on the RSI...ie. short Gold!
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scandal
Super Contributor
mhhh ... the interesting thing will be market reaction if and when fed cuts rates. I assume initially up but should carry trade begin to unwind as it did in march this year when Yen/$ hit about 114... Me thinks that, $ should weaken further (probably Yen/Dollar should touch low 113's) With interest lower in the US and exchange rate weak what will all those fund mangers who are in the carry trade business do? I wonder...
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Not applicable
The Rand can come down to R6.20 if the fed cuts and Financials should do well but this is only speculation.
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