Lack of clarity on lockdown restrictions pushes rand down
President Cyril Ramaphosa says lockdown rules could be eased somewhat by the end of May, though not in the hardest-hit areas
The rand was weaker on Thursday after a critical assessment about the effect of Covid-19 from the head of the US Federal Reserve dashed hopes for a quick recovery, and confusion around SA easing its lockdown restriction weighed on investor sentiment.
US Federal Reserve chair Jerome Powell said the US economy faced unprecedented risks. Powell also pushed against the prospects of interest rates in the US going negative, saying instead that additional government stimulus is needed.