South Africa’s rand firms but gains limited by virus surge, geopolitics
JOHANNESBURG – South Africa’s rand firmed against the dollar early on Wednesday, but traders said gains could be limited as concerns about a resurgence of global coronavirus cases and geopolitical tensions in Asia hurt risk appetite.
At 0640 GMT, the rand traded at 17.1775 per dollar, 0.36% firmer than its previous close.
“The rand, along with its emerging-market peers, remains at the mercy of a global recovery,” analysts at Nedbank said in a client note.
Source: iol.co.za
