Rand firms on renewed US stimulus hopes
Donald Trump’s tweets hint at possible, smaller ad hoc stimulus deals, but the rand is likely to remain range-bound until after the US election
The rand was on track for its second day of gains on Thursday morning, as renewed US stimulus hopes boosted risk appetite, prompting gains in risker currencies.
The rand reached an intra-day best of R16.5428/$, according to Infront data. At 10.15am, it had strengthened 0.15% to R16.5931/$ and 0.12% to R19.5213/€, while it had weakened 0.27% to R21.5137/£. The euro was little changed at $1.1765.