MARKET WRAP: Rand fails to react to promising GDP data

The rand hardly moved after the release of GDP data for the first quarter, which showed the SA economy grew at a faster rate than expected.

Seasonally adjusted and annualised GDP rose 4.6% in the three months to end-March compared with the previous quarter, Stats SA said on Tuesday, better than the 3.2% expansion predicted in the median estimate of 16 economists surveyed by Bloomberg…