SELL 2.000M USD/ZAR @ 14.33058, SL 14.43000 (980 pips), TP 14.22000 (1120 pips)Even with political uncertainty and fears of a downgrade to junk of South African bonds, the outlook for the Rand(ZAR) may be better in the short term, as investors sift through the news of likely Gordan prosecution and probabilities of the same.An issue that seems being politically managed for now.However the long term performance depends much more on political grand standings than on macroeconomic performance of the resources laden African giant, the macro issues of which do not seem great too. Should the finance minister Pravin Gordhan go on to be prosecuted, then its turmoil for the ZAR. Could see USD/ZAR shooting past 15.00 towards 16.00 against the USD.
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