The Rand hit a fresh 6-year worst level against the Dollar on Friday as global equities went into a tailspin again on fears of a recessionary , sparking renewed risk aversion.
There is now an estimated US$30 Trillion sitting in global money markets. Markets have lost close to 30% since their highs last year. Historically recessions like this have avereged down turns of around 33% so how much longer will the market take turn. I expect very soon!
RAND/US$9.42
Have a good weekend!
