Rand at one-week high as economic and political outlook improves a little
Positive second-quarter economic signs and easing domestic political risk give local currency some support
A week after dramatic declines induced by the ANC's internal battles over the central bank, things are looking up for the rand, boosted by signs the economy may avoid its second recession in a year.
SA's currency posted the biggest gains among emerging markets on Tuesday, jumping almost 1% to its strongest level in a week against the dollar. Like it's peers, it has gained from calmer global markets in the wake of an agreement between the US and Mexico over immigration, averting a potentially damaging round of tariffs.