JOHANNESBURG – The rand ended the week on the back foot against the US dollar. The South African currency traded weaker during Friday’s European trading session due to a resurgent US dollar and weaker emerging market sentiment. The rand was one of the worst-performing emerging market currencies. At the close of local trade, the rand quoted 0.8 percent weaker at R14.27/$, after trading in the range of R14.11/$ - R14.35/$. The rand traded slightly weaker this morning. Expected range today R14.15/$ - R14.45/$.
South African bourse
The JSE All Share (-1.4 percent) ended lower yesterday dragged by losses in large consumer goods (-4 percent) and mining (-2.2 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index traded higher/lower. In local news, Gold Fields (-2.6 percent) came under pressure after the company announced that its Q3 production declined by 3 percent, because of lower output at its last remaining South African asset, South Deep mine.
Brent crude oil