Rand extends gains as PMI data slides less than expected
The local currency pared losses after weakening to as much as R14.44/$ earlier on Wednesday, a level not seen since December 18
08 January 2020 - 11:30
The rand was leading its emerging-market peers in gains on Wednesday morning as local manufacturing data declined less than expected.
The local currency pared earlier losses after weakening to as much as R14.44/$ during intraday trade, a level it has not seen since December 18. The rand's weakness was prompted by an escalation in the Middle East conflict after Iran fired ballistic missiles at a US military base in Iraq. That tension continues to weigh on global market sentiment...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.