Rand recovers slightly as commodities bounce back

The rand staged a modest recovery on Wednesday morning, reflecting a degree of stability in commodity prices such as platinum group metals after a steep selloff earlier in the week.

The outcome of the US Federal Reserve’s policy meeting on Wednesday is likely to determine the next level for SA’s currency, which has traded erratically since mid-August as it swung from R15.40/$ to R14.12/$ last week and then back to current levels of R14.77/$. However, the disappointing US nonfarm payrolls report for August, which was attributable to the damaging effect of the highly transmissible Covid-19 Delta variant, has led to uncertainty about whether the Fed will still scale back its monetary support.

Until the whole world get to know how good and generous she is I won't stop saying this because my life has taken another great shape financially, LindaStouffes

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