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The rand traded below R17 to the dollar, its strongest level since late August, after Fed minutes signalled support for slower rate hikes. Attention turned to the South African Reserve Bank's rate decision, following October inflation that came in higher than expected.
Expectations of slower Fed hikes weaken the dollar, lowering rand import costs, while a possible local rate hike could further support the rand.
moneyweb.co.zaSuren NaidooDec 1, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
