MARKET WRAP: Rand weakens the most in a month
Concerns about a global recession and local structural challenges are combining to keep the local currency under pressure
17 April 2023 - 18:33
The rand weakened the most in four weeks on Monday, while the JSE closed slightly softer amid mixed global markets as investors looked to US corporate earnings for the first quarter to gauge how companies fared in an environment of high inflation and rising interest rates.
Having briefly broken below R18 against the dollar in the previous session, the USD/ZAR is consolidating its position above the 18/$ mark as we enter the start of the week, said RMB market macroeconomist Siobhan Redford...
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