Rand breaches R16/$ as investors fret over aggressive US Fed
Federal Reserve set to mull the best course of action against rising prices without slipping into recession
13 June 2022 - 18:10
The rand reached its weakest level in almost four weeks as a global sell-off in stocks and emerging market currencies showed no sign of abating after a hotter-than-expected US inflation report pointed to the US Federal Reserve (Fed) proceeding on its aggressive tightening path.
The US inflation report released on Friday has put the spotlight squarely on the Fed, with its policy-setting committee meeting this week set to consider the best course of action to battle rising prices without tipping the economy into a recession...
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