USD/ZAR forecast to move lower over the next months – CIBC – by MSalordFX USDZAR Banks
Analysts at CIBC, forecast the USD/ZAR pair at 17.85 by the end of the second quarter and at 17.45 by the end of the third quarter. “The recent episode of bank-related equity woes provided additional justification for investors to abandon high ZAR nominal yields in return for the safety and liquidity of the USD.
“The central bank has lowered its 2023 growth assumption to 0.3%, due to substantive load shedding and or ongoing rail freight headwinds. Additionally, inflation remains a SARB concern. Inflation has remained outside of the 3-6% target range since May 2022. Policy tightening now If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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