The JSE closed slightly weaker on Monday in subdued trade as the market failed to find direction ahead of a number of important risk events later in the week.These include meetings of the US Federal Reserve, the European Central Bank (ECB) and the Bank of Japan which will impact markets globally. The Fed is expected to hike interest rates by 25 basis points on Wednesday.The market was keeping an eye on the summit between US President Donald Trump and North Korean leader Kim Jong-un in Singapore, which is also like to impact financial markets.Higher yielding currencies such as the rand, peso and ruble were strongly reliant on investor appetite taking on risk, said FXTM analyst Jameel Ahmad. It would be expected that currencies like the rand would follow the lead from global stock markets, if they do rally on indications of a positive summit, he said. Analysts said markets were in risk-off mode on the day, with the Dow opening flat at the JSE’s close. European markets were more upbeat...
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