MARKET WRAP: Rand off its best levels but expected to firm in early 2023

📆 2022/12/21 4:38:00

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Volatility is the order of the day as volumes thin out ahead of the holidays

📆 2022/12/21 4:38:00
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The rand largely held onto Monday’s gains but was off its intraday best levels due to volatility in the dollar in thin trade.

The rand gained more than 2% on Monday on news that President Cyril Ramaphosa had emerged victorious in the race to lead the ANC for a second term. On Tuesday it touched an intraday best level of R17.2406/$ and at 5.27pm was trading 0.38% firmer at R17.2934/$. It had gained 0.31% to R21.0172/£, while easing 0.18% to R18.4026/€...

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