Rand flat after getting boost from global stimulus hopes
The currency was little changed on Thursday morning after gaining on Wednesday as world markets welcomed a US coronavirus package
BL PREMIUM
05 March 2020 – 10:10
The rand was little changed on Thursday morning, having gained 0.88% on Wednesday, as markets digested the US Federal Reserve’s surprise interest rate cut and the US’s approval of an $8.3bn package to fight the coronavirus outbreak.
The victory of candidate Joe Biden over rival Bernie Sanders in the US Democratic presidential election primaries has also boosted sentiment, with analysts noting that Sanders would likely raise taxes.
Source: businesslive.co.za