The South African rand took a knock on Thursday morning, and is expected to weaken towards the December conference of the ruling African National Congress (ANC), a Reuters poll showed.
One of the reasons is believed to be US Federal Reserve’s hawkish stance.
According to reports, a fresh rally in the dollar knocked the rand off its more stable footing.
Economist, Xhanti Payi explains.
If you have seen President Trump being able to put through that legislation against Obama Care, perhaps investors are thinking he can succeed in some of his plans including taxes, and that may actually fair well for the dollar.— Xhanti Payi, economist and Nascence Advisory co-owner
It's good to note that with the oil price coming down that might help us cushion the blow in terms of inflation and certainly our own petrol price coming up.— Xhanti Payi, economist and Nascence Advisory co-owner
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