MARKET WRAP: Rand hits best level since 2019 as most EM currencies edge up
As the rand is so actively traded globally, it can take a harder hit than other EM currencies when US rates rise
02 June 2021 - 19:30
The rand reached its best intraday level to the dollar since February 6 2019 on Wednesday, as most emerging-market (EM) currencies gained in risk-on trade.
However, external risks to the local currency exist, with the US expected to release its latest labour data on Friday. If the numbers are good, indicating a normalisation in economic activity, the spectre of higher interest rates comes ever closer...
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.