Rand rises on J&J vaccine plans, stocks near record high

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The rand and Russia's rouble led gains across currencies in Europe, the Middle East and Africa (EMEA) on Tuesday.

"There is not just uncertainty as to whether the package entails risks of overheating but also as to how the Fed would react ... whereas high inflation puts pressure on the dollar the Fed’s proactive measures would support the dollar."

Stocks have by far gained the most from a risk-driven rally this year, even outperforming their developed world peers on expectations that steady vaccination campaigns and stimulus will enable a strong economic recovery this year.

 

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