Analysts Like What They See in South Africa's Budget Plan
- The rand climbs the most among the world’s major currencies
- Traders feel budget good enough to avoid Moody’s cut: RMB
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The rand advanced, stocks climbed, South Africa’s credit default swaps fell and the last time the yield on the nation’s local-currency debt was this low was in 2015.
Traders and analysts clearly approve of the first budget under President Cyril Ramaphosa, who took office last week.