Reported 8 months ago
Jefferies Financial Group Inc. suggests that the South African rand is becoming the preferred choice over the Japanese yen and the Mexican peso for carry trade investments. The rand's rising popularity is attributed to the May 29 election results in South Africa, which boosted investor confidence in a business-friendly environment. Meanwhile, uncertainties surrounding policies, particularly in Mexico, have led to a shift in focus towards the rand. This change indicates a market preference for the South African currency over Latin American counterparts for potential profitable trades in the coming months.
Source: YAHOO