The rand hit its worst level against the dollar since December 15 as the greenback firmed as markets grow nervous about when the US Federal Reserve will begin to raise interest rates.

“The dollar was firmer against its major peers as US Treasury yields rose sharply on the possibility of the Fed hiking rates earlier than expected,” said TreasuryONE currency strategist Andre Cilliers. “Emerging market currencies, which firmed yesterday, all closed off their intraday best levels.” ..

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