MARKET WRAP: Rand weakens on US rates outlook
Federal Reserve officials reiterate the ‘higher-for-longer’ narrative
08 May 2024 - 19:21
The rand weakened for the second session on Wednesday, while the JSE made marginal gains as the rally ran out of steam after Federal Reserve officials reiterated the “higher-for-longer” interest rates narrative.
The rand was constrained by risk-averse sentiment, with emerging markets, their currencies and their capital flows harmed by the US’s delay in starting the rate-cutting cycle, Investec chief economist Annabel Bishop said...
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