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Rand firms in mild emerging-market recovery

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The local currency is slightly stronger against the pound on Monday morning, amid reports that UK Prime Minister Theresa May may be on her way out

The rand was marginally firmer on Monday morning, ahead of what could be a tumultuous week for the local currency.

No change in rates is expected, but the tone of the Bank will be closely watched, amid the expectation that it will strike a hawkish note. At 9.45am the rand was 0.55% stronger at R19.0604/£, 0.12% firmer at R14.4788/$ and 0.08% up at R16.3733/€. The euro was 0.11% firmer at $1.1308.

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