Riot-battered rand could reach R15/$ soon, analysts say

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Riots taking place domestically is contributing to rand weakness.
Riots taking place domestically is contributing to rand weakness.
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The rand slumped to R14.76/$ - its weakest level in three-and-a-half months - on Wednesday, hit by ongoing looting and violence in South Africa, as well as a red-hot US inflation number.  

As recently as last month, the rand was trading around R13.40/$ off the back of global recovery and improving investor risk appetite. 

But growing expectations that the US monetary authorities will start to close the taps on market-boosting emergency stimulus, as well as indications that US interest rates may be hiked sooner than expected, have put the brakes on the rand in recent weeks.

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Rand - Dollar
14.52
-0.1%
Rand - Pound
20.21
-0.0%
Rand - Euro
17.17
-0.0%
Rand - Aus dollar
10.73
+0.2%
Rand - Yen
0.13
-0.0%
Gold
1,800.06
-0.2%
Silver
25.13
-0.1%
Palladium
2,656.45
+0.1%
Platinum
1,004.50
-0.4%
Brent Crude
71.29
+1.3%
Top 40
62,200
0.0%
All Share
68,371
0.0%
Resource 10
69,148
0.0%
Industrial 25
86,202
0.0%
Financial 15
13,559
0.0%
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