The local currency market remains rangebound
With no new developments in terms of Covid-19, a rather quiet political landscape and data remaining largely in line with expectations, the local currency market remains rangeboundThe rand was weaker on Tuesday in line with emerging-market currencies, as a resurgence in global Covid-19 cases continued to put pressure on investor risk appetite, with the market awaiting new information for direction.
The rand strengthened below R17/$ on Monday, as investor appetite for riskier assets rose. However, it retreated as the total number of coronavirus cases globally continued to drive sentiment.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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