Societe Generale analysts highlight a strong rebound in global risk appetite, benefiting the South African Rand. USD/ZAR is seen as vulnerable after failing to hold above its 200-day moving average at 17.00, with scope to grind toward 16.00.
MUFG’s Senior Currency Analyst Michael Wan notes that the Monetary Authority of Singapore (MAS) tightened its exchange rate policy in April by slightly increasing the slope of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) band, becoming the first Asia-ex-Japan central bank to tighten
HSBC Asset Management argues several emerging markets are entering a structurally bullish phase, highlighting South Africa’s improving fiscal stance and policy credibility.