MARKET WRAP: Rand extends gains, JSE at record high

The rand extended the previous session’s gains on Monday, with the JSE reaching its best level on record — tracking firmer global markets as signs of easing inflation in the US jobs report boosted sentiment.

Investors are betting that last Friday’s report, which showed that wages grew slower than expected, could be a good sign that the US Federal Reserve’s interest rate hikes to tame inflation have made some progress…