Last year’s outperformance by resources stocks may just have been an anomaly
Fundamentally, the backdrop supports the bearish technical outlook for the rand, so further rand weakness looks likely from current levels. Only a break below R12.50/$ would turn the bias back towards rand strength. Right now, the odds of that happening look about as good as the odds of the Springboks ever winning another rugby World Cup.
Difficult times lie ahead, and unfortunately the poorest are likely to suffer most from the recent developments.