[CURRENCY] At 11:30 the rand traded at 17.39 against the dollar, as the market sentiment was dented by worries about a rise in Covid cases in China and tightening restrictions in some cities of the world’s second-biggest economy. Moneyweb Currency
The rand weakened in early trade on Monday, as the market sentiment was dented by worries about a rise in Covid cases in China and tightening restrictions in some cities of the world’s second-biggest economy. At 0642 GMT, the rand traded at 17.37 against the dollar, 0.68% weaker than its previous close.
China’s capital Beijing reported two deaths for November 20, with the city’s most populous district urging residents to stay at home on Monday, extending a request from the weekend as the country fights numerous Covid-19 flare-ups. ETM Analytics said in a research note that persistent power cuts in South Africa and a public sector strike expected on Tuesday were also doing little to boost market sentiment.
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