MARKET WRAP: JSE and rand extend gains on bets Fed hikes could be done

The JSE gained the most in three weeks on Thursday, while the rand touched the strongest level in three months on optimism that the Federal Reserve could be close to wrapping up hiking interest rates.

The Fed kept rates in a range (https://www.businesslive.co.za/bd/world/americas/2023-11-01-fed-holds-rates-steady-at-22-year-high/) of 5.25% to 5.5% at the conclusion of its latest policy meeting on Wednesday, a move that was widely expected…