Down the conspiracy theory rabbid hole: Rand to go upUSDZAR: first they will sell their houses and belongings (for rands)
Ok well you know what I think about South Africa, what I said about it + reading between the lines + what I say about other places and the world in general.
It's simple the price moves because of what people are doing it's not magical.
Riots don't magically make the currency implode, it's indirect, and right now people will sell for rands so it should go up at first.
Sort of how the yen goes up when japanese sell their us stocks, or goes down before the us stock market goes up.
The price moves because of supply & demand not Morgan Stanley saying the economy will contract by 3.5%.
Which also means something can be completely wrongly priced because of "technical" details.
Spreads are high but this is a large move, spread should be less than 5% of the stop loss.
What would be magical would be the government going "no one should go hungry we will help you we are the saviors blablabla usual nonsense" and spending billions to "rebuild" and throw welfare around. Would provide juicy and long term shorts on the rand. In a few weeks. After I made money going long.
