MARKET WRAP: Rand at best level in six months with focus still on central banks

The rand reached its best level in six months on Wednesday as global markets awaited more direction from the US Federal Reserve on Wednesday evening, while investors also shift focus to the SA Reserve Bank’s repo rate decision on Thursday.

At 5.22pm, the rand had firmed 0.78% to R16.2928/$ reaching R16.24 during intra-day trade, its best level since March. It had strengthened 0.88% to R19.2885/€ and was flat at R21.1604/£. The euro was little changed at $1.1841.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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