The JSE closed higher for the ninth consecutive session on Wednesday, as interest-rate sensitive stocks‚ including banks and retailers, continued to benefit from a stronger rand. The dollar was on the back foot against emerging-market currencies, after recently rallying due to optimism over US economic growth, and the prospect of interest-rates increases there. Analysts warned, however, that the rand was at risk in the longer term due to political factors, which may further dampen prospects for the Reserve Bank’s cutting rates again in 2017. The rand was set to continue its momentum against the dollar‚ following improved risk appetite from investors after Catalan president Carles Puigdemont seemed to back away from his previous threat to declare immediate independence from Spain‚ said FXTM research analyst Lukman Otunuga. Wednesday’s main risk event would‚ however‚ be the release of September’s US Federal Reserve’s federal open market committee meeting minutes, due later in the even...
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