MARKET WRAP: JSE extends losses while rand hits worst level in five weeks
Sentiment takes a beating after traders pare back on rate cut bets and weaker-than-expected GDP data from China
17 January 2024 - 18:46
The JSE extended its losses to a third day and to its lowest in two months, while the rand fell to its worst level in five weeks as investors reconsider the timing of the first US interest rate cuts. The dollar soared.
Most global bourses were also under pressure as central banks pushed back against interest rate cut bets, while signs of a patchy economic recovery in China drove shares there to their lowest in almost five years, Reuters reported...
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