The rand's recovery proved to be a false dawn as poor economic data globally sparked a sell-off of riskier assets.
A day after posting its biggest gain in two months, the local currency, which often acts as a proxy for global sentiment due to SA’s liquid and open markets, led declines among emerging-markets, falling as much as 1.99% to a near 11-month low against the dollar.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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