Following the May 2019 elections the Rand has more recently been strengthening against the USD. This has the effect of extending the Intermediate wave (2). The interest rate effect is expected to stem any remnants of exuberance. The circus show on corruption has been given credibility without waiting for any positive outcome. As it dawns on the market that it is in fact just a circus show then wave (2) will certainly end by means of a distinctive reversal. Meanwhile the Rand is a barometer of related sentiment and its polarity.
The Chief Justice has tried to tell us all that corruption will never be beaten. Perhaps trying to prepare everyone for the inevitable.
https://ewn.co.za/2019/07/11/saps-considered-most-corrupt-institution-in-sa-survey
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