The rand, which had been slightly weaker before the US labour data, firmed after its release, touching an intraday best of R13.47/$
04 June 2021 – 18:36
The rand firmed along with other emerging market (EM) currencies after US employment data showed the country created fewer jobs than analysts expected.
The dollar weakened a little after data on Friday showed the US labour force grew by 559,000 in May versus an expected 650,000. The unemployment rate, however, dropped by a little more than expected to 5.8%. Another keenly watched measure, average hourly wages, rose 0.5% month-on-month…