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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