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MARKET WRAP: JSE muted but rand extends losses

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Currency weighed down by IMF’s lower outlook for global growth, power cuts and the impact of KwaZulu-Natal floods

The JSE ended the day was little changed in contrast to its European peers, while the rand remained under pressure and extended Tuesday’s losses amid a weaker outlook for economic growth and the ongoing war in Ukraine.

“Local headwinds and the strong dollar have eventually shown the rand’s vulnerability and weakness,” said TreasuryONE currency strategist Andre Cilliers. ..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 Sunday Times Daily.

 

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