MARKET WRAP: Rand weaker as markets eye Godongwana’s budget

The rand broke a three-day winning streak on Monday, while the JSE was little changed in a thin trade session due to US markets being closed for the Presidents’ Day holiday.

Locally, all eyes this week will turn to finance minister Enoch Godongwana’s budget statement on Wednesday. Godongwana is facing the daunting task of presenting a budget that keeps government expenditure in check in the face of a sluggish economy while finding the additional revenue needed to curtail rising debt..