Rand firms against greenback, stocks rise

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

The dollar weakened as traders focused on weaker aspects of the April US payrolls report.

JOHANNESBURG - The rand firmed on Friday as modest US jobs report weighed on the dollar, although many investors stayed on the sidelines with national elections less than a week away.

The dollar weakened as traders focused on weaker aspects of the April US payrolls report, brushing aside stronger-than-forecast hiring and a drop in the jobless rate to a more than 49-year low. Locally, South Africans go to the polls next week. Although political analysts say a victory for the governing African National Congress is all-but-assured, the party has been struggling to reverse dwindling support blamed in part on unfulfilled promises to improve the lives of millions of the country’s poorest people.

The benchmark JSE Top-40 Index was 1.02% higher at 53,028.35, while the broader All-Share Index rose 1.01% to 59,335.90.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rand weaker after US Federal Reserve holds lending rates, stocks gainThe US Federal Reserve on Wednesday held interest rates steady and signalled little appetite to adjust them any time soon. This is worrying
Source: ewnupdates - 🏆 30. / 53 Read more »