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MARKET WRAP: Rand weakens for seventh session running

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Not since then US Fed chair Ben Bernanke triggered the ‘taper tantrum’ in May 2013 has the local unit fallen for so many days straight

The rand weakened for a seventh straight session — its longest losing streak since May 2013 when the US Federal Reserve signalled it would begin winding down the stimulus that had been in place since the world began its recovery from the 2008/2009 financial crisis.

On Tuesday, ginvestors over China’s Covid-19 outbreak. shipping backlogs in that country and the ongoing war in Ukraine have compounded concern over global supply chain issues and higher inflation...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 Sunday Times Daily.

 

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