Rand slides ahead of state of the nation address

11 February 2016 - 12:31 By Colleen Goko

The rand began to weaken on Thursday morning against major currencies as markets prepared for President Jacob Zuma’s state of the nation address.The rand weakness comes despite the dollar weakening following Federal Reserve chairwoman Janet Yellen’s first day of testimony to Congress. Ms Yellen’s remarks were interpreted to mean that there would be no rate increase in March.

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