Rand slumps as global investor sentiment remains fragile
Expectations that the US Fed may soon cut interest rates and the prolonged US-China trade war are still dominant factors in global markets
12 June 2019 - 15:49
The rand was slightly weaker on Wednesday afternoon, the worst-performing emerging-market currency on the day, as investor sentiment remains capricious.
The rand looks set to break a three-day winning streak, as uncertainty in the global environment picks up a little. It found support on Tuesday following the release of upbeat manufacturing data for April, raising hopes that economic activity is picking up in the second quarter. Retail sales for April earlier were also better than expected, rising 2.4% year on year, from 0.1% in March...
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