Rand a little firmer but Tuesday’s improved risk sentiment begins to wane

The rand was a little firmer on Wednesday morning, with the improved risk sentiment prevalent in markets on Tuesday beginning to fade.

The rand gained as much as 3% at one stage on Tuesday amid signs that the coronavirus may have peaked in some of the hardest-hit countries, such as Italy and Spain. This optimism was short-lived, however, as the lockdowns in most countries seem likely to be extended.