MARKET WRAP: Rand firms as investors ponder Brexit deal

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Global markets are waiting to see if the US and China will reach phase one of a trade deal, while analysts warn that Brexit is never ‘simple’

The rand was firmer against the pound on Thursday evening, as markets digest news that the EU and Britain have reached a deal on the latter’s exit from the EU.

At 5.23pm, the rand had firmed 0.79% to R19.021/£, shedding some gains after earlier reaching R18.9518. It had strengthened 1.02% to R14.7915/$ and 0.6% to R16.4459/€. The euro was up 0.42% to $1.1119. The benchmark R186 government bond was stronger, with the yield falling three basis points to 8.245%. Bond prices move inversely to bond yields.

 

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