MARKET WRAP: Rand recovers some of its losses, JSE ends lower
While investors await answers, the rand is likely to remain under pressure, analysts say
02 December 2022 - 19:18
The rand recovered some of Thursday’s heavy losses on Friday, but was off its intraday best levels, while the JSE closed weaker amid mixed global markets as investors digested the hotter-than-expected US jobs report.
The local currency dropped as much as 4% to the dollar on Thursday before ending the day 2% weaker. The fall came as the fate of Cyril Ramaphosa’s presidency hung in the balance. On Friday, after gaining as much as 1.6% earlier in the session, it gave back some of those gains by the close...
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