So-called dollar-rand risk reversals in shorter tenors are also at multi-year lows, suggesting"that the pressures on the rand may well dissipate in the coming months," economists at Rand Merchant Bank wrote in a client note this week.
That’s good news for the rand’s emerging-market peers, most of which have also seen risk reversals trending lower. The MSCI EM Currency Index has slumped almost 2% since the beginning of February amid a dollar bounce. in the dollar once the Federal Reserve’s policy rate peaks.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features.
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