MARKET WRAP: Waning US inflation lashes rand
Rand weakens most in more than three weeks as US CPI data suggests tapering may be some months off yet
14 September 2021 - 19:21
The rand weakened the most in more than three weeks as investors mulled over slightly lower-than-expected US inflation data. The JSE also fell, taking its cue from weaker markets in Shanghai and Hong Kong, with losses among miners and industrials overshadowing gains by banks and financials.
US inflation data is watched closely for any indication of when the Federal Reserve will start tapering its monthly stimulus. The country’s consumer price index (CPI) rose 5.3% in the year ended in August, slightly below the 5.4% increase in June and July, the Bureau of Labour Statistics said on Tuesday...
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.