Johannesburg - The rampant rand on Tuesday morning put a stop to the JSE’s strong run of the past few days.
The local unit gained 1.09% in morning trade and at mid-morning stood at R13.20 to the dollar, the highest level in 52 weeks, beating the previous high of R13.22 set in November. Analysts said the rand was lifted by improved risk sentiment globally as fears receded over the impact of US President Donald Trump’s trade policies.
Asian shares reached a 19-month high on Tuesday. Trump made no protectionist remarks during talks with Japan over the weekend, boosting demand for emerging market currencies.