CURRENCY MOVEMENTS
Bet against the rand at your peril, despite 6% fall, analysts warn
Reality is catching up with the local currency after higher commodity prices shielded it from a selloff in emerging markets
25 April 2022 - 05:10
Reality may have finally caught up with the rand, which slumped almost 6% last week — its biggest weekly drop since the early days of the Covid-19 pandemic — but betting against it could be an expensive mistake, analysts warn.
The slump threatens the rand’s status as a surprise winner in 2022 as higher commodity prices shielded it from a sell-off in emerging markets, which have taken a hit from Russia’s invasion of Ukraine and prospects of faster interest rate hikes in developed markets...
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