MARKET WRAP: JSE slips as FOMC minutes awaited
Resurgence of Covid-19 in Europe is adding to investors’ concerns; rand remains under pressure from beleaguered Turkish lira and the prospect of higher US rates
The JSE closed weaker on Wednesday as investors mulled over the prospect of tighter monetary policy in the US and the resurgence of Covid in Europe.
The Federal Reserve is scheduled to publish the minutes of its federal open market committee (FOMC) meeting later on Wednesday, which are expected to give further insight into the US central bank’s decision to start slowing asset purchases. Fed chair Jerome Powell has pledged to use policy tools to stop higher inflation from “becoming entrenched”. ..