Hopes for domestic recoveries and a weaker outlook for the US dollar would help most emerging market currencies to keep gains made against the US dollar since March, according to the Aug 28-Sept 3 poll of over 60 FX strategists.
While South Africa’s rand is forecasted to rise about 2.0% to 16.50 per dollar in the next 12 months, the Brazilian real is expected to strengthen 7.0% to 4.95 per dollar, and the Russian rouble is likely to trade 8% firmer at 69.5 per dollar.
However, China’s yuan and Indian rupee are forecasted to weaken 1%, having rallied by 5% since March.
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