MARKET WRAP: Ukraine usurps firmer rand
Budget provides the local currency with initial support, but sustained tensions in Eastern Europe hold sway
23 February 2022 – 19:44
The rand turned weaker against the dollar on Wednesday afternoon as generally positive sentiment about finance minister Enoch Godongwana’s maiden budget gave way to ever-mounting concerns about the crisis in Ukraine.
The JSE, meanwhile, tracked its weaker global markets, where investors are on edge after Ukraine moved to introduce a state of emergency and the US and its European allies increased pressure on Russia by imposing sanctions and threatened that more could follow…
Source: businesslive.co.za
