MARKET WRAP: Rand plunges against dollar on US rates outlook
Investors are jittery after Fed chair Jerome Powell’s less hawkish comments overnight were tempered with a warning
08 February 2023 – 19:20
The rand plunged to a two-month low on Wednesday as investors weighed the Federal Reserve’s outlook on inflation and monetary policy.
Fed chair Jerome Powell acknowledged that price increases were starting to cool off, repeating that there are “disinflationary” signs in the economy, boding well for US assets. ..
Source: businesslive.co.za