Below-forecast US inflation data prompts bets that the Federal Reserve will slow the pace of hikes, boosting emerging market currencies
The rand featured on the gainers’ list of emerging market currencies on Wednesday, strengthening by its biggest margin since mid-December 2017 after below-forecast US inflation data prompted bets that the Federal Reserve will slow the pace of interest rate hikes.
Underlying inflation remained unchanged last month after advancing 1.3% in June, the US labour department said in a closely watched report. The report shows underlying inflation pressures remain elevated as the Federal Reserve mulls another supersized interest rate hike in September...
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