WATCH: Rand runs out of momentum

JOHANNESBURG - The rand started the session on a firmer footing, buoyed by external factors, before sliding later during the session as risk aversion rose amid thin trade according to NKC Research

With the United States celebrating Independence Day, trading volumes dipped on Friday. Concerns surrounding rising infections – and renewed outbreaks after Fourth of July celebrations – and an associated reversal of phased reopening clipped risk appetite later during the session, supporting the greenback. On local soil, weak data releases last week painted a sombre picture of the South African economy, which was struggling before Covid-19 hit. At the close of local trade, the rand quoted 0.

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