The USDZAR fulfilled its potential in August and provided a wide trading range for speculators; the coming month of September may remain the same. Check out our monthly Forecast here:
of August the USD/ZAR was near the 16.91000 ratio, after its fall to lows in the second week of the month, the Forex pair then managed to climb upwards and hit a high of around 17.14000 on the 23. One week later the USD/ZAR has continued to produce a rather swirling range of results for speculators near highs.
Even though the top tier of August prices was not able to topple the July values, the USD/ZAR remains within the upper realms of its long term price range. The loss of value in the South African Rand however, may have more to do with nervous global sentiment and the notion the U.S Federal Reserve could continue to raise its interest rates over the next few months.
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