Rand drops

The rand weakened more than 2% against the pound and the euro in intra-day trade yesterday, while the JSE reversed earlier gains, after SA confirmed its first case of the coronavirus.

“The markets are on edge, with many questioning the ability of the government to deal with a breakout in SA efficiently,” Peregrine Treasury Solutions treasury partner Bianca Botes said.

Markets were on the front foot earlier yesterday after the US house of representatives approved an $8.3bn emergency fund for combating the virus.

The JSE all share ended the day flat at 52,936.27 points and the top 40 gained 0.12%.

Banks lost 0.89% and platinum miners 2.2%.