THE rand was on shaky ground on Monday morning and looked set to be in for another volatile week, which is likely to be dominated by the dollar after US interest rate hike chatter resurfaced on Friday.The rand was caught up in a broad sell-off on Friday after one of the US Federal Reserve officials banged the drum of a rate hike, which could come as early as September."Global markets have been under considerable stress. Risk assets had their worst daily performance on Friday since the Brexit vote and tensions are spilling into today as expected volatility measures have spiked," Rand Merchant Bank currency strategist John Cairns said in a note."Fears of US rate hikes are again dominating as voting Fed officials are using their last opportunity to warn about a possible September hike."A number of Fed officials are scheduled to speak later in the day, in addition to the key US data releases this week.US inflation data, which shapes the US central bank’s approach to rates, will be relea...
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