Rand snaps five-day losing streak amid global stimulus hopes
The local currency has recovered slightly as investors hope central banks will try to curb the effects of the coronavirus
The rand recovered slightly on Monday morning, in line with its emerging-market peers amid the hope that central banks will consider stimulus measures to curb the effects of the coronavirus.
The rand snapped its five-day losing streak on Monday morning, firming more than 1% in intraday trade. Global markets have been on the front foot after the US Federal Reserve hinted at the likelihood of an interest-rate cut to mitigate the effects of the virus. A rate cut from the US Fed gives additional space for the SA Reserve Bank to also cut rates...