Rand muted ahead of the medium-term budget
TreasuryONE says that the ‘biggest jump in US inflation in 30 years stoked inflation fears’, while the dollar strengthened sharply
11 November 2021 - 11:25
The rand was little changed on Thursday morning, having lost more than 2% in the previous session — its biggest one-day fall in almost 10 months — as inflation fears weighed on emerging-market currencies.
China and US both recorded worst-than-expected inflation data on Wednesday, fuelling the fear that the two superpowers would increase interest rates earlier than expected — a move that will make their currencies and investments in their assets relatively more attractive than those of emerging markets...
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Commenting is subject to our house rules.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now