Battered stocks lick wounds, the rand stretches losing streak

South Africa's rand weakened for the seventh straight session, remaining at its lowest level since early January. The currency was last down 0.4% against the greenback.

Emerging market currencies that had previously benefited from surging commodity prices triggered by the Ukraine war are gradually coming off their strong run as the reality of inflationary pressure, higher developed market rates coupled with a more mature period in emerging market monetary tightening cycles sets in.

The Russian rouble opened higher against the dollar in Moscow trade, while hitting a more than two-year high against the euro. Investors now look ahead to an expected rate cut on Friday.

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Rand Report: Rand bruised and battered, amidst emerging-market correctionThe rand experienced a tremendous pullback during the trading rounds of last week. After consecutive weeks in the green, the ZAR has encountered a price correction and a reversal in the currency’s trendline. Sable_Intl
Fuente: TheSAnews - 🏆 25. / 59 Leer más »

PHANTOM SHARES: The Finance Ghost: Anglo and Tongaat Hulett lick their wounds, Old Mutual plans BBBEE schemeIf you want to hedge out Anglo exposure, it seems that buying agriculture businesses in similar regions would be the way to do it. The rain is kind to farmers and abusive to miners.
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