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MARKET WRAP: Rand firms below R15/$ as global risk sentiment improves

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Both the US Federal Reserve and the Bank of England said last week that neither was in a hurry to raise interest rates

The rand reached its best level in 12 days as risk sentiment globally picked up after promising employment numbers in the US and as most central banks kept their rates unchanged last week.

At 6.20pm on Monday the rand had firmed 0.78% to R14.9327/$, 0.53% to R17.3009/€ and 0.25% to R20.2402/£. The euro had gained 0.18% to $1.1586...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 Sunday Times Daily.

 

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If it was under Zuma administration, rand manipulators would have been hard at work.

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