Rand hits two-month low as manufacturing PMI drops
The local currency is in its fifth consecutive session of losses
01 October 2019 - 16:31
The rand had fallen more than 1% in intra-day trade on Tuesday afternoon, reaching its lowest level in two months, after the Absa manufacturing purchasing managers’ index (PMI) came in lower than expected.
The local currency is in its fifth consecutive session of losses, its first five-session loss since early August, as emerging-market currencies remaind under pressure amid global risk-off trade...
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