MARKET WRAP: Rand weakens for the ninth straight day
Local currency continues to bleed amid thin holiday market, overall risk and stronger dollar
The rand weakened for the ninth straight day on Thursday, breaching R16 against the dollar for the first time since early January to reach its worst level since mid-December.
It’s a case of a stronger dollar and a continuation of the trend in a thin holiday market in SA, said Absa head of fixed income James Turp. ..