Nicola Mawson
The rand moderated yesterday but stocks on the JSE surged nearly 1, shrugging uncertainty in the US as there was no clear indication as to whether US President Joe Bidens replacement, Kamala Harris, will fare better than he did at the polls on November 4.
The domestic currency remained virtually unchanged at R18.28 to the US dollar while JSE All Share Index rose 0.9 to 80 659 points by 4pm, rebounding after falling for four consecutive days last week on the back of concerns over trade relations between the US and China.
US presidential hopeful Donald Trump has a history of seeing China as a competitor and imposition trade restrictions.
Analysts yesterday said they expected this news to dominate this weeks market activity, but others pointed to the US interest rate movements as being more important, with cuts expected to start happening in September.
