The rand was slightly weaker against major global currencies on Monday afternoon, with world markets generally lower after trade tension ratcheted up at the weekend.The decision by the US to impose $50bn in additional tariffs on Chinese goods has taken the shine off riskier assets, with a number of forthcoming events also set to ensure the local currency will struggle to push higher.The announcement by the White House prompted an immediate reaction from China, which announced the implementation of tariffs of 25% on about 700 US products.Political developments in Germany, where Chancellor Angela Merkel is under siege for her stance on migration, were also weighing on markets.The rand may also face headwinds from the upcoming election in Turkey, as volatility over coming days may not be limited to the Turkish lira, said FXTM global head of currency strategy Jameel Ahmad. Should that currency nosedive, it would be likely to reduce investor appetite towards emerging markets in general.L...
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