The rand is trading on the wrong side of R18/$ for the first time in more than three months, as expectations grow that US interest rates may still climb much higher.
Strong US employment data, released last week, fuelled fears that the US Fed may move to cool inflation with even higher rates. "These comments were particularly noteworthy given that they explicitly pushed back against the narrative of rate cuts by year end, which markets had started to assume would be coming fairly soon," said Michael Hewson at CMC Markets.
_Business Now where are the SA economists who in Nov/Dec 2022 were saying that interest cycle had reached its peak. Fact is that the USA inflation is far from under control. not even factored in the $1.4 trillion spending they approved in late Dec. Oil price above $86. Trouble looming
_Business We need to get rid of this rubbish called dollar and trade in the BRICKS currency as of August.... They've suffocate our Afrikan currencies so they can take our minerals for up to nothing for years...
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