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MARKET WRAP: JSE and rand weaken further as bets on Fed aggression rise

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Investors are increasingly considering the prospect of a 100 basis-point rate hike by the Federal Reserve in two weeks

The rand continued its slide against the dollar on Thursday, touching the weakest level last seen in August 2020, while the JSE fell the most in a week as global recession fears intensified.

Markets are now pricing in the possibility of even tighter US monetary policy after worse-than-expected inflation data from the world’s biggest economy, where prices rose 9.1% in the year to end-June...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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