Rand heads for first day of gains in four while Covid-19 worries mount

The rand was on track to snap its three day losing streak on Wednesday, brushing off grim GDP data as markets await a fresh catalyst, while a surge in Covid-19 cases continues to weigh on sentiment.

At 11.18am, the rand had firmed 0.60% to R17.2346/$, 0.59% to R19.3460/€ and 0.59% to R21.3636/£. The euro was flat at $1.1225.