SA’s currency reels from US treasury yields spike
The rand steadied at much weaker levels on Tuesday morning, while Brent crude extended gains after hitting the $80 level for the first time since October 2018, fuelling consumer inflation worries on the global level.
SA’s currency is reeling from the spike in US treasury yields and the market’s positioning for the Federal Reserve’s eventual reduction in its huge multibillion-dollar stimulus programme.Elsewhere, share markets were mixed in Asia, where China was the focal point in relation to how it manages the fallout of the liquidity crisis that has beset its second biggest property developer Evegrande.
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