South Africa’s rand waiting for the tide to turn

• The South African rand is expected to be less volatile in 2027 and 2028 due to a potential change in US foreign policy following the 2026 mid-term elections.
• The rand's current volatility is largely influenced by US foreign policy, with the currency experiencing wild swings in response to US actions, particularly the US-Iran war.
• If the Democratic Party wins the mid-term elections, it could lead to reduced volatility in global financial markets, benefiting the rand and potentially influencing interest rates in South Africa.