The rand was on the front foot on Tuesday morning as emerging-market currencies recovered from global risk-off sentiment that was prompted by escalating tension in the Middle East.

The killing of a top Iranian commander during a US air strike last week had rattled markets, with the rand falling almost 2%...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now