JOHANNESBURG - It was a good day for the Johannesburg Stock Exchange (JSE) and the rand.
The local market rose by more than one and a half percent and the currency strengthened.
On Wednesday was a tough day for the rand after weakening on the back of expectations that the US Federal Reserve could raise interest rates sooner rather than later.
READ | Rand holds steady
Higher rates in the United States make dollar investments more attractive.
This normally strengthens the Dollar and weakens the Rand.
But on Thursday the trend completely reversed.