Rand May Weaken on Speculation of Government Steps
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The rand may weaken in the next month on speculation the Finance Ministry’s October mini-budget will include measures to depreciate the world’s third-best performing currency since 2008, according to Barclays Plc.
“We expect idiosyncratic factors to generate some modest weakness in one month and in 12 months, but our forecasts are generally at the strong end of consensus,” Barclays Capital analysts including London-based Koon Chow and Bulent Badsha in Johannesburg wrote in a research note dated today.