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...
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