Rand soars and JSE erases 2020 losses as vaccine hopes add fire to the Biden-inspired risk rally
Local currency strengthens to its best intraday level since late February as Sasol jumps more than 20%
09 November 2020 - 10:21
The good news keeps piling up for the rand and the JSE, which has now erased all of its 2020 losses to be up 0.39%.
Fresh from being propelled to its biggest weekly gain since May in the wake of Donald Trump’s defeat by Joe Biden in the US presidential election, the currency surged to a more than eight-month high on Monday as global markets soared on a breakthrough in the search for a vaccine for Covid-19...
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