Rand dips as investors weigh U.S.-Iran talks and inflation
The rand eased to 16.5225 per dollar as markets monitored U.S.-Iran peace talks. Rising inflation increased expectations for a local rate hike next week.
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South Africa’s rand fell 0.4% to 16.5225 against the USD/ZAR during the morning on May 21. Investors are monitoring peace talks between the United States and Iran while domestic data shows a sharp acceleration in April inflation. Rising price pressures increase the likelihood of a 25-basis-point interest rate hike at the central bank meeting next week.
