Rand's Ramaphosa Rally May Run Out of Steam
- Derivatives markets signal currency’s vulnerability to selloff
- Economic fundamentals not supportive, Credit Agricole says
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The South African rand’s surge lasted only as long as it took Cyril Ramaphosa to get himself to the top of the nation’s ruling party.
Now that he has, the currency’s world-beating rally is losing steam, and derivatives markets suggest it’s vulnerable to a renewed selloff.