MARKET WRAP: JSE muted but rand extends losses
Currency weighed down by IMF’s lower outlook for global growth, power cuts and the impact of KwaZulu-Natal floods
The JSE ended the day little changed in contrast to its European peers, while the rand remained under pressure and extended Tuesday’s losses amid a weaker outlook for economic growth and the ongoing war in Ukraine.
“Local headwinds and the strong dollar have eventually shown the rand’s vulnerability and weakness,” said TreasuryONE currency strategist Andre Cilliers. ..