Rand tracks global market recovery
Easing concerns about the coronavirus outbreak have supported the rand this week ahead of the state of the nation address
The rand gained for the third day on Wednesday morning as global markets reacted positively to what seems to be the peak of the coronavirus outbreak, while the local unemployment rate remained steady in the fourth quarter of 2019.
The rand had benefited from an improved mood on global markets, strengthening from the psychologically important R15/$ this week. It performed best among emerging-market currencies tracked by Bloomberg on Tuesday evening...