(Bloomberg) -- South Africa's rand headed for its
biggest weekly decline in almost five months as investors sold
emerging-market assets on concern losses related to defaults on
U.S. subprime mortgages will slow the global economy.
The rand is the second worst performer among the 16 most
heavily traded currencies this week while investors also reduced
holdings of bonds as inflation stayed above target for a third
consecutive month. South African stocks are set for their biggest
weekly fall since the beginning of March.
Read more at Bloomberg Currencies News
biggest weekly decline in almost five months as investors sold
emerging-market assets on concern losses related to defaults on
U.S. subprime mortgages will slow the global economy.
The rand is the second worst performer among the 16 most
heavily traded currencies this week while investors also reduced
holdings of bonds as inflation stayed above target for a third
consecutive month. South African stocks are set for their biggest
weekly fall since the beginning of March.
Read more at Bloomberg Currencies News
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