MARKET WRAP: Rand sinks to weakest since May 2020 amid global risk aversion

The rand fell as much 2% on Friday in its biggest one-day fall since early June, rounding off what has been a brutal week for risk assets.

SA’s currency sank to  R17.92/$ by Friday afternoon, the lowest since the early days of the Covid-19 pandemic in May 2020, stretching year-on-year losses to 21%…