The rand was slightly firmer against major global currencies on Thursday morning, ahead of the European Central Bank monetary policy announcement later in the day.
The ECB is said to be considering downgrading the euro area’s growth forecasts, implying some sort of economic support, said Sasfin Securities fixed-income analyst Alvin Chawasema. Local issues are on the back burner, although the announcement by Eskom on Wednesday that load-shedding may be here to stay put the local currency and bonds under some strain.
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