Rand and JSE hit as China sets off jittery markets
SA stocks reach the lowest level since early January and rand has longest losing run in a month ahead of central bank meetings
China was once again at the centre of the action as SA assets endured a torrid start to the trading week, with the rand falling to a three-week low and the JSE slipping to its weakest level since January.
The rand, often a barometer of investor sentiment towards emerging markets due to its status among the most heavily traded currencies outside those of developed nations, also dropped on Monday ahead of the Federal Reserve’s policy meeting later this week. Fed policymakers may outline the pace at which they will scale back crisis-era stimulus. That may support the dollar at the expense of higher-yielding alternatives...