Rand rally falters as optimism over US-China trade row fades
The currency has been holding up fairly well in recent weeks despite the volatile global environment
The rand stabilised at relatively weaker levels on Wednesday morning, as the initial euphoria regarding the truce between China and the US over the trade dispute faded. US President Donald Trump also tempered optimism over the speedy resolution of the tariff spat, which has held markets hostage for months. “We are either going to have a REAL DEAL with China, or no deal at all — at which point we will be charging major Tariffs against Chinese product being shipped into the United States. Ultimately, I believe, we will be making a deal — either now or into the future...,” Trump said in a tweet. At the weekend, the two largest economies gave themselves a 90-day window period to negotiate in an attempt to find a solution to the dispute that analysts says has potential to weigh on global growth. “It is more a postponement of the issue, rather than finding a lasting solution,” according to Halen Bothma, market analyst at ETM Analytics. “It’s very much a wait-and-see for investors.” One of...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.