Last week was characterised by the drama around global oil prices and worries that the Covid-19 infection rate would flare up again. Picture: Karen Sandison/African News Agency(ANA)
Last week was characterised by the drama around global oil prices and worries that the Covid-19 infection rate would flare up again. Picture: Karen Sandison/African News Agency(ANA)

WATCH: Rand loses most of its recent gains

By Compiled by Dhivana Rajgopaul Time of article published May 4, 2020

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JOHANNESBURG - The rand lost most of its recent gains as a result of last week’s rebalance of the World Government Bond Index (WGBI) according to Bianca Botes, Executive Director at Peregrine Treasury Solutions.

The recent resumption of tension between the US and China, which seems to be intensifying, is adding pressure to the fragile risk appetite, causing additional market jitters.

The local manufacturing PMI and vehicle sales are due locally today, while the US will release factory orders.

The market starts the day at R18.88/$, R20.67/€ and R23.52/£.

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