RAND, BONDS, JSE ALL SUFFER
THE RAND weakened more than 2 percent yesterday and bonds fell after the current account deficit widened in the third quarter and power firm Eskom said it was considering restructuring its debt, dimming investor appetite for the currency.
At 5pm, the rand bid at R14.1834 to the dollar, 37 cents softer than at the same time on Wednesday. It earlier reached a session-worst R14.2050 after closing at R13.85 overnight.
Sentiment towards the currency was initially hit by general risk off trade that weighed down most emerging currencies as worries about the impact of the US-China trade war on global growth continued to ripple through markets.
Data showing the current account deficit widened to 3.5 percent of gross domestic product in the third quarter, and a warning by Eskom that it may