MARKET WRAP: Rand at worst level in six weeks as dollar soars

The rand fell to its worst level in six weeks on Monday, as the US dollar rose to a three-week high against the euro.

The dollar’s strength, on the back of Friday’s strong US jobs report, raised the likelihood of the Federal Reserve continuing with its inflation-fighting interest rate hikes for longer. Monday’s gains for the dollar followed a strong session on Friday when the greenback rose 1% against the euro, Reuters reported...

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International Finance: Asian equities drop; yen declines on BOJ report: markets wrapStocks in Asia dropped as an unexpectedly strong US jobs report raised the prospects of more rate hikes from the Federal Reserve, while concern over US-China geopolitical tensions also weighed on sentiment.
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