Rand strengthens as firms as markets eye US Fed chair’s speech

The rand firmed alongside its emerging-market peers on Thursday morning ahead of US Federal Reserve chair Jerome Powell’s speech at the Jackson Hole symposium, as investors await more clarity on the Fed’s policy trajectory.  

At 10.10am, the rand had strengthened 0.34% to R16.8283/$, 0.23% to R19.9167/€ and 0.13% to R22.2515/£. The euro was flat at $1.1835.