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MARKET WRAP: Rand recovers some of its losses, JSE ends lower

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While investors await answers, the rand is likely to remain under pressure, analysts say

The rand recovered some of Thursday’s heavy losses on Friday, but was off its intraday best levels, while the JSE closed weaker amid mixed global markets as investors digested the hotter-than-anticipated US jobs report.

The local currency, which dropped more than 3% on Thursday as the fate of Cyril Ramaphosa’s presidency hung in the balance, gained more than 1.6% earlier in the session, but could not hold on to the gains...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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