MARKET WRAP: Rand erases May’s gains
The JSE all share lost 0.59% to 76,704 points, while it ended the month of May marginally firmer
31 May 2024 - 17:57
The rand weakened for a third day running on Friday, with the JSE ending softer as investors assessed the election results as they were released.
For the week, the local currency has lost 2.06%, the biggest weekly loss since the week ended February 18. It also erased gains for the month, ending May about 0.3% weaker as coalition dynamics around local politics and the delay in US interest rate cuts weighed on sentiment. ..
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