MARKET WRAP: The JSE and rand advance as weaker dollar boosts precious metals

The JSE rose above the 60,000-point level and the rand strengthened for a fourth straight session on the first stock trading day of 2021 as a weaker dollar spurred precious metals prices and boosted investor appetite for higher yielding assets.

The rand strengthened against the dollar along with most emerging-market (EM) currencies, while the JSE climbed to its highest in more than two weeks. The price of commodities, which are priced in dollars, rallied as the greenback traded at its weakest level since April 2018…