Rand continues to weaken against major currencies #CAP

The rand continues to weaken against a basket of major currencies as emerging markets react to the latest move by the US Federal Reserve to hike rates by 25 basis points, the second time in ten year from 0.5% to 0.75%.

The rand is currently trading at 14.07 from Wednesday's closing at 13.65 against the dollar.

The rand has continued to weaken on the strength of the dollar.

By early morning trade the rand had lost almost half a percent. It lost 2% overnight.

The local 10 year bond has also wakened contributing to the further weakening of the rand.

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