Sentiment remains cautious as a strong US jobs report signals a good chance the Fed will implement another 75 bps rate hike
08 August 2022 – 18:20
The rand gained the most in a week on Monday, while the JSE tracked firmer US and European markets, with investors’ focus shifting to key inflation reports this week.
The local currency gained more than 1.2% in intraday trading, having lost as much as 1% in the previous session after stronger-than-expected US nonfarm payrolls surprised the market, showing the country’s labour market added 528,000 jobs in July, beating a market estimate of a 258,000 increase. ..