USD/ZAR: Easy gains for the Rand are likely behind us – SocGen

Inflation data from South Africa is due tomorrow. Economists at Société Générale analyze Rand outlook ahead of the report.

USD/ZAR faces psychological support at 18.00

A decline in headline to 6.5% YoY in May from 6.8% is the consensus and may support the ZAR via higher real rates. 

Easy gains for the Rand are likely behind us. 

USD/ZAR faces psychological support at 18.00. The 200-Day Moving Average runs just below 17.97 and has proved a tough obstacle at least three times in the last 12 months.