Rand set for gains on global economic recovery hopes
Risk appetite has returned to some markets on positive US economic data
The rand looked set for its first day of gains this week on Wednesday morning as risk appetite returned to the markets after positive US economic data supported hope for economic recovery, while investors monitor a possible second wave of Covid-19 infections.
The local currency firmed alongside some of its emerging-market peers as well as global equities on the day after US retail sales rose more than expected in May, lifting global market sentiment. ..