Rand and bonds go into re­cov­ery mode

The Star Early Edition - - BUSINESSREPORT -

THE RAND and bonds raced to their firmest lev­els in a week yes­ter­day as in­vestors cashed in on the dol­lar’s re­cent rally and saw an im­proved out­look for the econ­omy de­spite re­ces­sion and po­lit­i­cal un­cer­tainty. At 5pm, the rand was bid at R13.2703 to the dol­lar, 29.89c stronger than at the same time on Tues­day, its firmest level since July 5. The rand led a re­cov­ery by emerg­ing mar­ket cur­ren­cies sparked by a slide in the dol­lar, af­ter more Rus­sialinked con­tro­versy for Don­ald Trump and Fed­eral Re­serve chair­per­son Janet Yellen’s cau­tious tone in her tes­ti­mony be­fore the US Congress. . – Reuters See Page 20

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