Analysts  braced for more volatility in the rand after the  currency breached R18/$ for the first time on Monday as investors digested the implications of the country losing its last investment-grade rating.

This was despite the rand coming off its worst levels by the end of the day, while bonds, which bore the brunt of the negative sentiment last week, gained. The JSE gained with its global counterparts, which got support from US stimulus, lower oil prices and efforts globally to accelerate testing for coronavirus, which has brought the world economy almost to a halt.

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