The local currency did reach a one-month high in morning trade as investors cheered the US Fed’s dovish stance, but it then retreated
31 August 2020 – 10:53
After having its best day in nearly three years on Friday, the rand shed gains on Monday morning as risk sentiment waned while local focus shifted to trade data later in the day.
At 10.35am, the rand had weakened 0.59% to R16.6806/$, after it had reached a one-month high of R16.53/$ in early-morning trade. It had weakened 0.41% to R19.8288/€ and 0.35% to R22.1927/£. The euro had weakened 0.15% to $1.1887.