Rand getting hammered

[BusinessTech]

Rand getting hammered

The South African rand has come under more pressure as global markets react to rising geopolitical tensions and surging oil prices.

 

[Brian_G]

The South African rand has come under further pressure as global markets react to rising geopolitical tensions and surging oil prices, which are pushing investors away from emerging-market currencies.

According to Investec chief economist Annabel Bishop, the latest escalation in the Middle East has triggered sharp movements in energy markets and financial assets, hitting the rand particularly hard.

“The oil price has spiked again, reaching US$106/bbl for Brent crude as escalating market risk aversion drove the rand near R17.00/USD, while risky assets in general have seen some sell-off,” Bishop said.

 

[satanboy]

Rand getting hammered

The South African rand has come under more pressure as global markets react to rising geopolitical tensions and surging oil prices.

 

[Moosedrool]

We should have a intervention for the rand to go to a AA meeting.

 

[Johnatan56]

We should have a intervention for the rand to go to a AA meeting.

Automobile association might also be an oil addict though.

 

[Moosedrool]

Automobile association might also be an oil addict though.

It got hammered not hummered.

 

[ISP cash cow]

Interest rate hikes back on the cards?