Rand strengthens to three-week high

THE RAND hit a three-week high against the dollar yesterday as the greenback weakened broadly on worries over US President Donald Trump’s disclosure that he had shared information with Russian officials.

The rand raced to its firmest since April 26, according to Thomson Reuters data, hitting a session high of R13.0750 to the dollar earlier in the day.

By 15.25pm, the unit was trading at R13.09, 0.68percent firmer from its New York close on Monday, extending a rally that started last week after disappointing US data weighed on the dollar.

The greenback was hampered by news that Trump disclosed highly classified information to …read more