MARKET WRAP: Rand, JSE weaker as risk aversion rises in thin conditions
The rand traded at its weakest level in two months
14 August 2023 - 19:01
The rand touched its weakest level in two months on Monday, while the JSE retreated as risk aversion again gripped investors.
The local currency, which was trading around R17.40 to the dollar just over two weeks ago, touched an intraday worst level of R19.16/$ — the weakest since June 7 as risk aversion heightened amid renewed concerns about the global outlook. The pace of China’s economic recovery and the direction of interest rates in the US are of particular concern to investors...
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