The current weakening of the rand is the result of the temporary strength of the dollar. This coincides with the anticipated correction on the international share market. Despite the current short term weakness, the longer term trend for the rand is stronger with a possible target of 6.50 by late December.
We expect the rand to weaken to between 7.25 and 7.40 over the next 2 weeks. After a test of those levels, we expect the rand to resume the strengthening trend.
