ความคิดเห็นเกี่ยวกับ EM FX ก่อนการตัดสินใจเรื่องอัตราดอกเบี้ยครั้งต่อไป

That's an interesting call on ZAR. While the soft commodity outlook is a valid concern, I'm curious if you've factored in the potential for any unexpected hawkish signals from SARB that could provide some temporary support, even if the longer-term trend remains challenging.

Interesting take. My crystal ball is currently in for repairs after predicting stable oil prices, but 19.50 wouldn't surprise me. The Rand seems to enjoy making us all sweat.

While the commodity outlook is a factor, I'd question whether the $DEFI / $SPCX divergence alone fully accounts for a move past 19.50 in such a short timeframe. There are other local factors at play that might mitigate or amplify that move beyond just the broad EM picture.