Rand weakens slightly as geopolitical tension rises
The rand was weaker against major currencies on Friday just before midday as geopolitical tension between the US and North Korea kept currency markets on alert.
In his latest comments, US president Donald Trump did not mince his words, which further heightened tension between the two nations.
On Wednesday, North Korea warned that it would surround the US territory of Guam with missiles in coming weeks, to which Trump responded that the US would respond with "fire and fury".
On Thursday, Trump said that "North Korea better get their act together or they are going to be in trouble".
Locally, investors were waiting to see Moody’s review of SA’s sovereign rating later on Friday. No changes were expected in its review of the country as not much had changed since its June downgrade.
Fitch and S&P Global have already cut the foreign debt rating to junk status.
At 11.31am‚ the rand was at R13.4981 to the dollar from R13.4607‚ at R15.8606 to the euro from R15.8471‚ and at R17.5004 to the pound from R17.4682.
The euro was at $1.11750 from $1.1773.