Rand and bonds go into recovery mode

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