Rand rallies below R18/$ on hope Fed nears end of hiking
Slower than expected US inflation gives a boost to risk assets such as the rand
13 July 2023 - 11:23
UPDATED 13 July 2023 - 18:59
The rand strengthened to its best level against the dollar in more than three months on Thursday, reflecting ever-shifting global market perceptions of when the US interest rate hiking cycle might end.
Markets have grown jittery in recent months about the unintended consequences of higher rates on the US economy, and by extension, the global economy as exemplified by the collapse of Silicon Valley Bank in March and other US regional banks...
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