MARKET WRAP: Firmer rand takes centre stage
Rand strengthens to R14.20/$ for the first time in more than two months as investors mull over Tuesday’s GDP data
08 September 2021 - 19:06
The rand touched R14.20/$ for the first time in more than two months, firming against most major currencies on Wednesday as markets digested Tuesday’s GDP data which showed economic growth accelerated in the second quarter, ahead of expectations, while the number for the previous period was revised higher.
The rand is now about 5% firmer since US Federal Reserve chair Jerome Powell gave a speech that was more dovish than expected at the Jackson Hole symposium...
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