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A TreasuryONE dealer argues the US dollar is the main driver of emerging-market currencies, including the rand. Expectations of smaller US rate hikes later in 2022 pushed the dollar down from 1.04 to 1.07 per euro, and the rand moved with it toward R15.50.
Dollar direction drives the relative price of dollar-denominated commodities and the cost of imports for emerging-market buyers. This is market commentary with no new event behind it.
ghostmail.co.zaAndre BothaMay 31, 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.
