MARKET WRAP: Rand tumbles 2% as dollar gains ground
US currency’s rise weighs on global markets as investors await clarity on US policy
11 November 2024 - 18:33
The rand extended its previous session’s losses on Monday, tumbling more than 2% amid continued volatility.
According to Wichard Cilliers, director and head of market risk at TreasuryONE, the rand’s weakness is largely attributed to dollar strength, fuelled by optimism surrounding president-elect Donald Trump’s policies and anticipated economic data...
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