The rand broke below 16 to the dollar on Tuesday, while the JSE touched 70,000 points in intraday trading for the first time in a week on hopes that China will ease its Covid-19 curbs.
Shanghai, China’s most populous city, recorded a third day of zero Covid-19 cases outside its quarantine facilities, adding to assumptions that the country would ease restrictions, which will relive some of the pressure on supply-chain disruptions...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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MARKET WRAP: Rand touches worst intraday level since NovemberWeak Chinese data and fears about global growth weighed on emerging market currencies
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