Rand breaks through R16/$ – and may have further to run
The commodity-linked rand strengthened on Monday morning, touching R15.99/US$ thanks to record gold prices, while traders awaited the central bank’s first rate-setting meeting this year. The rand briefly moved stronger than the R16 mark at 10.40am SAST. It then retreated slightly and was last quoted at 11.24am at R16.03/$. These are the currency’s strongest levels…