Rand will reach a high of 6.75 per dollar

 

Speaking of South Africa, RBC Capital released a report yesterday which predicted the rand will rally 10 percent in the next three months.  The report credits improving economic growth and the upcoming Fifa World Cup tournament with pushing the South African rand higher.  The report predicts the rand will reach a high of 6.75 per dollar by the time the World Cup ends on July 11th.  "Investors are going to push the rand stronger as we approach the world cup, which will attract quite a lot of money into the country". We have seen a pattern of major events pushing the host country's currency higher, as the Olympic host country typically gets a boost in the months prior to the event

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