Rand firms on Covid-19 vaccine hopes
US-China tension and rising virus cases seem to have little effect on dampening the mood for now
The rand was firmer on Wednesday, in line with its emerging-market peers, as progress in the development of a Covid-19 vaccine boosted investor risk appetite.
The US pharmaceutical company Moderna reported progress in the development of a Covid-19 vaccine, saying that the vaccine produced antibiotics to the coronavirus in all patients tested in an initial safety trial. The findings raised hopes that a vaccine could be brought to market quickly.