The Turkish Lira weakened to a new record low and EMS currencies headed for the biggest fall against most developed market currencies since November 2016.
Together with the Middle East crisis after the opening of the US embassy in Jerusalem as well as the clashes between Palestian and the Israeli defence forces, oil prices soared with the Brent breaching the $80 (about R1000) a barrel.
US stocks once again had a volatile week. The Dow Jones industrial index traded last Wednesday on 24899 points, or 0.7percent, higher than the previous Friday close, but fell to 24706 points (-0.8percent) on Thursday and at the close of the JSE on Friday traded at 24707 points, or 0.2percent, down for the week.
The stronger dollar, together with the long bond woes had put pressure on South Africa’s share markets. At the close on Friday the all share index traded on 57804 points. Despite the strong recovery on Thursday by 1.1percent, the index still ended the week down by 0.33percent.