Rand firmer amid hope US stimulus deal will be struck before elections

The rand was on track for its second day of gains on Monday, as the hope that the US stimulus deal will be reached before the elections lifted sentiment.

The rand firmed along with its emerging-market peers after House speaker Nancy Pelosi’s comments on Sunday improved investors’ appetite for riskier assets. Pelosi said a pre-election agreement on stimulus remains possible and set a Tuesday deadline for an agreement with the White House.