🔒 Russia’s war turns neighbouring currencies into world’s best
Russia’s invasion of Ukraine has placed former Soviet republics’ currencies at the peak of 2022’s global rankings.
Russia’s invasion of Ukraine has placed former Soviet republics’ currencies at the peak of 2022’s global rankings.
The BoE struggles to communicate what it now wants to do. Its chief economist has signalled that the market panic calls for further tightening.
The dollar has gained 17% against the pound so far this year, and it climbed past parity with the euro for the first time in two decades.
The rand has lost 17%, much of it in the past three weeks. That has matched a historic collapse in the Nasdaq index during the same period.
A strong US dollar is now whacking emerging-markets currencies. Money managers are selling the South African rand and Brazilian real.
The South African rand has clearly not had its value protected. The question then becomes: Are SARB and the Treasury above the Constitution?
The rand slipped to a four-week low ahead of expected interest rate hike announcements by the US Fed Reserve and the Bank of England.
TreasuryOne’s currency expert Andre Cilliers dives into the factors influencing the current rand/dollar price action.
TreasuryONE’s Andre Cilliers shares his insight on why the rand is the second best emerging-market currency thus far in 2022.
Cycle followers will caution that this law of “seven” telegraphs another Rand crash in 2022. Something that would not be out of turn, anyway.