MARKET WRAP: Rand firms as US jobs numbers point to tapering delay
Currency most likely received a boost from better-than-expected manufacturing data in August
Analysts are in two minds about the disappointing jobs number from the US on Friday and its effect on the Federal Reserve’s bond purchases.
The US added 194,000 jobs, well below a generally expected 500,000 prompting some to believe that the Fed may now only start reducing its bond-buying programme in December, while others believe November is still the likely beginning of a taper. For its part, the Fed has said a number of times that it will begin paring its asset purchases only once the labour market returns to pre-pandemic levels...