MARKET WRAP: Rand firms as China reports drop in record Covid cases
Investors will be keeping a close eye on developments in China and Wednesday’s speech by Fed chair Jerome Powell
29 November 2022 – 19:13
The rand headed below R17 to the dollar on Tuesday after China reported decline in Covid-19 cases and moved to stamp out protests over the country’s Zero-Covid policy.
Chinese health authorities reported 38,645 cases on Tuesday, down from a record daily high of 40,347 a day earlier, according to Reuters. The rise in cases in the world’s second-biggest economy had sparked fears about further restrictions that led to protests in Shanghai, Beijing and other cities at the weekend…
Source: businesslive.co.za
