Traders Least Bearish on Rand in 13 Years as Moody’s Priced In

Rand risk reversals versus dollar fall to lowest since 2007
BofA says Moody’s will downgrade South Africa to junk in 2020

South Africa's Rand As It Tumbles To Record Low — Photographer: Waldo Swiegers/Bloomberg

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By Colleen Goko-Petzer

November 11, 2019 at 8:17 AM EST

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Most analysts may be predicting South Africa will lose its last investment-grade rating, but derivatives traders couldn’t care less.

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Before it’s here, it’s on the Bloomberg Terminal