MARKET WRAP: Rand posts longest weekly run of gains since August as traders await ratings agencies

The rand has gained for a third week, its longest run in almost three months, as growing optimism that progress is being made in producing a Covid-19 vaccine boosted sentiment towards the global economic outlook.

SA’s currency was also supported on Thursday as the Reserve Bank kept its main interest rate unchanged, protecting the yield advantage of holding local assets. The rand stayed firm on Friday as traders awaited key ratings decisions from S&P Global and Moody’s Investors Service…