The rand weakened against major global currencies during the Easter long weekend, and had extended losses slightly on Tuesday morning as investors watched for fresh catalysts. News that Eskom had received a R17bn bail-out on Friday has put the local currency on the back foot, again raising questions about whether SA will be able to hold on to its investment-grade sovereign credit rating. Eskom continued to weigh on the rand, while emerging markets are again feeling the pinch as the US-Iran oil debacle strains sentiment, said Peregrine Treasury Solutions corporate treasury manager Bianca Botes.

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