The rand steadied on Thursday morning, but was in much better shape than at the start of the week, when it touched a one-month low against the dollar. The recovery in the value of the local currency came amid signs of improving global sentiment. Investors tiptoed into risky assets, helping to pull the rand from a one-month low of R14.48/$, to highs of R14.04/$ before settling at about R14.08. The easing US-China trade tension was the chief catalyst behind the improving investor sentiment, though signs of easing UK Brexit concerns added a positive undertone to the markets This was after UK Prime Minister Theresa May survived a no-confidence vote from her own party late on Wednesday. May has come under criticism from some of her own colleagues regarding the terms of the draft Brexit deal with the EU. "As tensions between the US and China appear to thaw, so global barometers of risk appetite improve to further assist sentiment across emerging markets," Mercato Financial Services analys...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now