The rand extended gains on Tuesday afternoon, as the dollar lost ground against a basket of currencies, notably the euro. The weaker dollar also boosted commodity prices, with the platinum price gaining just more than 2% to $813.69 an ounce. This also boosted platinum shares on the JSE. Risk assets generally showed signs of resilience to a new twist in the continuing trade spat between the US and China. As widely reported, US President Donald Trump made good on his promise to slap tariffs on $200bn worth of Chinese goods, upping the ante in the trade dispute, which carries potential consequences for the global economy.
The rand has weakened substantially in recent months, limiting the potential for further falls — at least in the short-term. "There is a reasonable chance that once the dust settles we could see a decent recovery in the emerging-market interest-rate markets," said Ashley Dickinson, head of fixed-income dealing at Sasfin Wealth. "Investors could well look to rand...
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