MARKET WRAP: Rand slides on second-wave coronavirus fears

The rand had its worst day in a week on Thursday, in line with other emerging-market currencies, as fears of a second wave of coronavirus infections continues to weigh on riskier assets.

“Expect the rand to remain volatile and highly sensitive to external forces as rising coronavirus cases [in some countries] spark fears of a second wave,” FXMT chief market analyst Hussein Sayed said.