Rand’s losses continue as market awaits Reserve Bank decision
The Bank’s interest rate announcement is being closely watched, with global focus on possible progress in resolving the US-China trade war
The rand was weaker against major global currencies on Wednesday afternoon, down 0.38% against the dollar for the week, with investor concerns over SA's economic prospects continuing to weigh on the local currency.
The rand was on track for its fifth consecutive session of losses on Wednesday, as continuing problems at the power utility Eskom and perceptions of political fragmentation continue to spook investors, analysts said. There are concerns that SA is headed for further credit-ratings downgrades...