Rand’s recovery hits snag as dollar rebounds and SA finds itself in Trump’s cross hairs
The rand’s recovery hit a snag on Thursday morning as the dollar rebounded and SA fell victim to US President Donald Trump’s twitter tirade."I have asked Secretary of State @SecPompeo to closely study the South Africa land and farm seizures and expropriations and the large scale killing of farmers. "South African Government is now seizing land from white farmers," Trump tweeted.The local currency fell as much as 2% against the dollar, leading the declines among the emerging-market currencies."What it [the tweet] will do is, of course, raise the fear profile that has been brewing about the land issue for the past few weeks. Can you imagine what the mere mention of sanctions might do? Not that I want to be a doomsayer, but given his track record recently of threatening sanction [and in some instances imposing them] there will be those, including me, who have to put the thought at the back of their minds. Not exclude it entirely," said Standard Bank trader Warrick Butler.The weaker ran...
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