SENTIMENT
Rand in favour as central banks turn dovish
Local currency is the biggest gainer among 24 emerging-market currencies
19 June 2019 - 05:10
Global central banks have come to the rescue of the rand, helping SA’s currency recover from losses caused by ANC secretary-general Ace Magashule’s utterances (https://www.businesslive.co.za/bd/national/2019-06-04-anc-bombs-on-reserve-bank-add-to-rand-woes/) on the Reserve Bank’s mandate two weeks ago.
The rand, often a proxy for sentiment on riskier markets, was on Tuesday the biggest gainer among 24 emerging-market currencies tracked by Bloomberg. Gains by local bonds pushed 10-year yields, which move inversely to the price, to the lowest level in more than a year...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.