The JSE opened lower on Monday morning as investors dialed back expectations that the US Federal Reserve will aggressively cut the interest rate at its meeting at the end of July.
“The sharp correction in Fed expectations hint that investors now question whether they have gone ahead of themselves regarding the ‘preventive’ easing measures that the Fed is preparing to take,” London Capital Group senior market analyst Ipek Ozkardeskaya said in a note. Locally, the ongoing clash between President Cyril Ramaphosa and public protector Busisiwe Mkhwebane continues to weigh on sentiment.
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