Rand breaches R19/$ as global risk aversion sets in
The hawkish tone of the Fed minutes released late on Wednesday lifted the dollar against a basket of currencies
06 July 2023 - 16:25
The rand breached psychological level of R19/$ on Thursday, reflecting broader market angst about the direction of US interest rates.
The bout of weakness followed the release of minutes from the US Federal Reserve’s most recent meeting in June, indicating that the majority of the officials were in favour of further tightening in policy to bring inflation down to a 2% target...
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