The rand fell to its worst level against the dollar since early January on Wednesday afternoon, weighed on by pressure on emerging-market currencies.
The rand was, however, faring slightly worse than the lira on Wednesday afternoon, with a host of local risk events on investors' radars, including the Reserve Bank interest rate decision on Thursday, and a credit-rating announcement by Moody's Investors Service on Friday. The risk associated with blocking volatility in the lira could diminish investor appetite for other emerging-market currencies, including the rand, FXTM head of global currency strategy Jameel Ahmad said.
Source: News Formal (newsformal.com)
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