TreasuryONE says that the ‘biggest jump in US inflation in 30 years stoked inflation fears’, while the dollar strengthened sharply
The rand was little changed on Thursday morning, having lost more than 2% in the previous session — its biggest one-day fall in almost 10 months — as inflation fears weighed on emerging-market currencies.
China and US both recorded worst-than-expected inflation data on Wednesday, fuelling the fear that the two superpowers would increase interest rates earlier than expected — a move that will make their currencies and investments in their assets relatively more attractive than those of emerging markets...
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