The rand gained the most in two weeks on Tuesday, but remains near the R18 against the dollar as volatility and uncertainty in the financial markets persist.
The local currency, which gained more than 1% in intraday trade as the bullish dollar paused for breath, was 0.25% firmer at R18.0299/$ at 6.50pm. Still, analysts warn that the spectre of a deeper global economic slowdown, perhaps even recession, will keep investors on edge...
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International Finance: Dollar rally pauses, stocks mixed in relative calm: markets wrapAsian markets traded on a cautious note on Tuesday after another selloff in US stocks, soaring bond yields and volatile currency markets as investors brace for a heightened risk of global recession.
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International Finance: Dollar rallies, stocks drop in rocky start to week: markets wrapThe dollar rallied, bond yields climbed and Asian shares slid amid unrelenting pressure on risk-sensitive assets as fears of faster inflation and global recession continued to rise.
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