The rand has maintained its volatile nature in the first few days of the year with some dramatic moves last week, indicating that it is in for another bumpy ride in 2023.

“In the short term, the rand moves will still be dominated by what happens in the US, as fears of a recession still remain,” said TreasuryONE chief dealer Wichard Cilliers, adding that the range of R16.75-R17.35 over the next month is likely, “with some risks to break even weaker”...

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