Rand range-bound as market eyes US-China talks
US President Donald Trump is expected to meet Chinese Vice-Premier Liu He later on Thursday amid speculation a deal is close
The rand was marginally weaker against major global currencies on Thursday morning, but is expected to trade in tight ranges, as the market awaits developments in the US-China trade talk. At 9.40am the rand had weakened 0.29% to R14.1875/$, 0.39% to R15.9531/€ and 0.45% to R18.6991/£. The euro was flat at $1.1245. The bid on the benchmark R186 government note was at 8.54% from 8.52%. US President Donald Trump is expected to meet Chinese Vice-Premier Liu He later on Thursday amid speculation a trade deal is close. There is also speculation that Trump could announce plans to meet Chinese President Xi Jinping, according to Dow Jones Newswires. Global markets were treading water, analysts said, but the rand continues to find some support from the recent decision by Moody’s Investors Service to hold off on SA’s credit-rating review. Eskom is in focus, with officials on Wednesday giving an update on load-shedding. It is still an open question as to how much load-shedding SA will experienc...
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