Market volatility likely to continue into fourth quarter
Momentum Securities analysts say the rand could depreciate further to R18.35/$ — its lowest level since May 2020
30 September 2022 - 17:27
Volatility in the financial markets, which saw the rand break through R18/$ for the first time in more than two years in the last week of the third quarter, is expected to continue into the fourth quarter amid global recession fears.
The rand, which is often seen as a proxy for sentiment towards emerging markets, has fallen 10.4% in the last three months, bringing its losses to 11.9% so far in 2022 as a combination of sticky inflation, a series of rate hikes and hawkish guidance from central banks across the world — despite the associated recessionary risks — have weighed on risk assets...
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