MARKET WRAP: Rand weakens the most in a month

The rand weakened the most in more than a month on Thursday as strong jobs data from the US signalled the Federal Reserve would probably stick to raising interest rates. The JSE closed firmer but off the day’s high.

Employment in the US private sector grew more than expected in December, with data showing those payrolls rose by 235,000, well above the market estimate of 153,000, and 127,000 reported in November...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 TimesLive Premium.

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