MARKET WRAP: Rand plunges against dollar on US rates outlook

📆 08/02/2023 21:24:00
📰 BDliveSA

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 63%

Nigeria News News

Investors are jittery after Fed chair Jerome Powell’s less hawkish comments overnight were tempered with a warning

The rand plunged to a two-month low on Wednesday as investors weighed the Federal Reserve’s outlook on inflation and monetary policy.

Fed chair Jerome Powell acknowledged that price increases were starting to cool off, repeating that there are “disinflationary” signs in the economy, boding well for US assets. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: Rand at worst level in six weeks as dollar soarsThe JSE tracked global peers weaker as investors assessed the US Federal Reserve’s next move
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE muted as investors looks to Powell’s address for clarityMarket participants view the Fed chair’s appearance at the Economic Club as a chance to offer more clarity on where rates are headed
Source: BDliveSA - 🏆 12. / 63 Read more »

International Finance: Asian stocks edge higher as investors await Powell: markets wrapUS and European equity futures and Asian stocks made small gains as investors awaited commentary from Federal Reserve chair Jerome Powell later on Tuesday.
Source: dailymaverick - 🏆 3. / 84 Read more »