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The rand lost ground against all hard currencies on the day
06 September 2024 – 18:25
by Lindiwe Tsobo
The JSE followed weaker global markets on Friday, while the rand’s two-day winning streak came to and end as investors assessed a key US jobs report.
The nonfarm payrolls report (https://www.businesslive.co.za/bd/world/americas/2024-09-06-us-payroll-figures-below-expectations-but-unlikely-to-deter-rate-cut/) revealed that US employers hired fewer workers in August than expected, marking the second consecutive month of below-forecast numbers.This adds to concerns about weakness in manufacturing and other areas of the economy, reported Bloomberg. ..
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