MARKET WRAP: Rand in longest winning streak since December 2012
Fed chair’s comments last week on tapering and interest rates, and weak economic data from the US and China hammer the dollar
01 September 2021 – 20:01
The rand gained for an eighth session running, its longest winning streak since December 2012 when President Cyril Ramaphosa became ANC deputy president at the party’s Mangaung conference.
The gains in 2012 came in the lead-up to and throughout the conference as Jacob Zuma, under pressure on many fronts at the time, received fewer votes for president than Ramaphosa did for deputy. Markets were hoping the latter would put SA on a better economic footing as he was considered more business-friendly. ..
Source: businesslive.co.za
