Rand set for second day of gains as global markets rebound
Emerging-market currencies bounced back from earlier losses with encouraging economic data coming from China
15 May 2020 - 11:35
The rand looked set for its second day of gains on Friday as emerging-market currencies rebounded from earlier losses and positive data from China aided global market sentiment.
“Emerging-market currencies are a natural repository for market angst, trading weaker at first amid all the doubt but finding their footing as the trading day has progressed,” said Rand Merchant Bank analyst Nema Ramkhelawan-Bhana...
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