MARKET WRAP: Rand drops as SA confirms first coronavirus case

The rand weakened more than 2% against the pound and the euro in intra-day trade on Thursday, while the JSE reversed earlier gains, after SA confirmed its first case of the coronavirus.

“The markets are on edge, with many questioning the ability of  the government to deal with a breakout in SA efficiently,” Peregrine Treasury Solutions treasury partner Bianca Botes said.