Rand breaks below R17/$, lifted by positive economic data
The local currency was on track for its second day of gains reaching an intra-day best of R16.88/$, its highest level in three weeks
02 July 2020 - 12:50
The rand broke below R17/$ on Thursday, firming against major currencies as investor appetite for riskier assets got lifted by positive economic data, although the rising global number of Covid-19 cases remains a threat.
“The rand gained momentum in its move stronger as positive US and EU data bolstered risk appetite, while improved local data indicated that the economy is regaining much-needed momentum as the lockdown is being eased,” said Peregrine Treasury Solutions executive director Bianca Botes...
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