The rand weakened the most in five months as rolling power cuts, flood damage and signs of a Covid comeback added to worries about the economic outlook.
Author: Robert Brand
Traders are adding bets on an outsized interest rate increase in South Africa later this month as the surge in the price of oil fuels inflation expectations.
South Africa has eased restrictions meant to stop the spread of coronavirus even as the percentage of people testing positive for the disease exceeded 20% for the 19th straight day.