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Rand slumps as market waits for news to aid direction

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Rand slumps as market waits for news to aid direction 🔒

The rand was weaker on Monday, in line with its emerging-market peers as investors remain cautious about the rising number of Covid-19 cases globally, while markets awaits fresh news for direction.

The local currency firmed to an intraday best of R16.87/$, according to Infront data, following some emerging-market strength towards the end of last week.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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