South African rand is under the cosh again
The continued fall in the rand comes after the economy unexpectedly slipped into a recession following the latest Q2 GDP reading yesterday.
With equities also seeing some light pressure, further emerging market worries is only going to help contribute more flows into the dollar, swissie, and yen on the day. As mentioned earlier, keep an eye on equities and this space. Risk sentiment appears to be taking over as the trading theme today.
