MARKET WRAP: Rand and JSE slip on lack of detail in budget speech
Analysts believe that finance minister Tito Mboweni’s supplementary budget lacked detail on implementation
The JSE closed weaker on Wednesday, along with the rand, as investors digested finance minister Tito Mboweni’s supplementary budget speech.
Before the speech, the rand had already lost about 0.7% to R17.32/$. As Mboweni finished speaking, the rand had weakened further, down 0.9% to R17.35/$, before falling still further into the evening.