The rand was one of the best-performing emerging-market currencies on Friday afternoon, lifted by an improved global mood, and by the local election results, which continue to come in. After sharp losses on Thursday, global risk assets were back in favour on Friday as investors clung to hopes that a positive resolution to the US-China trade conflict can be found. Negotiations between the two countries continue on Friday, even as the US raises tariffs on $200bn worth of Chinese imports from 10% to 25%.
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