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MARKET WRAP: Rand gains nearly 2% to the dollar this week, but markets are cautious

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The JSE was a little weaker on the day, with its global peers mixed as the US continues to grapple with the coronavirus

The rand was a little weaker late on Friday, but remained around R17 to the dollar, having gained nearly 2% this week as some positive economic data offset concern over the increasing number of Covid-19 cases.

General market sentiment has been given a boost this week by the positive data, giving investors hope that the global economy might be on the road to recovery. However, the rising number of new coronavirus cases, specifically in the US, means lockdown restrictions might need to be re-implemented in some cities and states to help curb the spread.

 

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