MARKET WRAP: Rand breaks two-day winning streak on strong US jobs report

The rand broke a two-day winning streak on Friday, after the US July jobs report came in strongerthanexpected, showing a strong labour market that will likely lead to more interest rate hikes from the Federal Reserve.

The US labour market added 528,000 jobs in July, beating a market estimate for a 258,000 increase. Job growth was expected to slow as the Fed continues to hike interest rates to tame surging inflation, but this report shows a labour market still running hot. ..