MARKET WRAP: Rand, JSE rally as US inflation surprises
Markets welcome better-than-expected monthly CPI data from the Labor Bureau, but warn that the rand still faces headwinds
13 December 2022 - 18:48
The rand reversed course on Tuesday, gaining the most in more than two weeks, while the JSE tracked firmer global markets after the US reported better-than-expected inflation data, raising hopes that prices are peaking.
US consumer price inflation (CPI) at an annual rate of 7.1% in November, below the market expectation of 7.3% and down from 7.7% in October. Core inflation, which excludes volatile food and energy prices, rose 0.2% in the month and 6% year on year, also estimates of 0.3% and 6.1%, respectively...
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