Rand firms as markets welcome upbeat Chinese data

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Meanwhile, government bonds found support on Tuesday morning during the weekly bond auction

The rand was on track to break a three-day losing streak on Tuesday afternoon, with global assets finding support from upbeat Chinese data and hopes that stimulus measures will result in an economic recovery in coming months.

A Chinese purchasing managers’ index for March beat expectations and registered an expansion after a dismal February, raising hopes that other countries will also bounce back from quarantine measures due to Covid-19.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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