Rand Traders Brace for Big Swings Each Way as Risks Stack Up
- Dollar-rand implied volatility surges to highest in two years
- Investors cut bearish bets as Cyril Ramaphosa leads ANC race
S&P's Bhatia Sees Hurdles to South Africa's Turnaround
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The rand’s roller-coaster ride isn’t over yet -- but traders appear uncertain about whether it’s heading up or down.
The South African unit, which has swung from being the best- to the worst-performing major currency against the dollar this year amid political tension and a faltering economy, is set for more volatility, based on options contracts.