Rand falls ‘out of bed’ amid global risk environment
Currency rallied in June and July as power cuts eased and Russian President Vladimir Putin said he would attend the Brics meeting online
The rand’s two-month recovery has come to a screeching halt, sliding as much as 7% against the dollar as the resurgent greenback and rising US bond yields dampen appetite for emerging-market assets.
The rand is hypersensitive to global sentiment, which remains skittish as investors try to predict the policy path of central banks in the developed markets, most notably the US Federal Reserve, which has said its decisions on interest rates will be data dependent...
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