MARKET WRAP: Rand weaker with focus on US debt-ceiling talks
Telkom’s share price plunges as much as 16%, leading JSE losses, as the group expects profit to plunge at least 85%
17 May 2023 - 19:06
The rand on Wednesday revisited last week’s record levels while the JSE closed firmer amid mixed global peers as investors assessed debt-ceiling talks in the US.
The local currency fell as much as 1.3% to an intraday worst of R19.3784/$ on “dollar strength fuelled by optimism that US congressional leaders can agree on a debt-ceiling deal within days”, said MyWealth Investment CEO Annatjie van Rooyen...
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