A retracement in the greenback gives strength to the Rand

11 May 2018 / JSE Market Updates Posted by: Odwa Magwentshu

Throughout the week the Rand has been in a tough spot due to the Dollar strengthening, however yesterday, we witnessed a retracement in the Dollar index. Our Financial sector took advantage of the correction to close up 0.68 per cent. More positive news came to the aid of financials as the S.A 10 year yield was firmer yesterday, down 3.5 basis points. In other news, former retail giant, Steinhoff came under more fire as a report came out stating that accounting creativity of the company is much worse than previously perceived.

All this and more in our morning market podcast:

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