Rand firms on Chinese and PMI data
The Absa PMI continued to rise in August, as an easing of the Covid-19 restrictions lifted business activity and sales
01 September 2020 - 12:37
The rand was firmer on Tuesday, in line with its emerging-market peers, while the dollar dropped to a two-year low as investors consider the US Federal Reserve’s willingness to let inflation rise.
The local currency was on track for its best day in a week, gaining as much as 1.2%, after the US currency extended losses at the start of the new month, trading at its lowest since May 2018. Earlier, Chinese manufacturing data indicated that exports are underpinning a recovery...
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