Here is the latest opinion of UBS Bank regarding news influencing the exchange rate:
The rand benefited from the more positive news on the global trade outlook
recently. Domestically, the focus will be on the Medium-Term Budget Policy
Statement on 30 October, where details on the government’s plans to address
the ballooning budget deficit and the sovereign’s rising debt-to-GDP ratio
are expected. Moody’s next rating review is also scheduled for next week (1
November), but the credit rating agency may publish an updated view at any
point. We expect the rand to weaken toward USDZAR 15 by year-end.
