The JSE ended slightly lower on Friday. The talking point however was the speculation that the Rand would be downgraded by the ratings agencies which forced the currency much lower. The reality was however that a downgrade never came and the Rand has firmed a touch this morning to R11.56 to the Dollar after touching R11.70. The US markets were under pressure on Friday, the DOW fell 1.7%. Tomorrow is a public holiday in South Africa, markets are closed, and Thursday sees Futures close-out.