The rand firmed for the fifth consecutive session on Monday as investors bets for a September interest rate cuts by the US Federal Reserve intensified.

The non-farm payroll report on Friday showed the US labour market softened more than expected in June, sparking bets that the Fed will be more confident that high interest rates have worked to cool off the economy. The report also showed that the unemployment rate ticked to the highest level in June since November 2021. ..

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