Rand weaker as US-China trade headlines hog the spotlight
The local currency lost ground after the US adopted a softer tone towards Chinese tech giant Huawei, which supported the dollar
21 May 2019 - 11:20
The rand was weaker on Tuesday morning as the market reacted to the US announcement that it would ease the ban on Chinese tech giant Huawei.
The US-China trade war continues to dominate global markets after Google suspended some of its business with Huawei, following it being blacklisted by the US last week. The US temporarily lifted the ban on the Chinese company on Tuesday morning, granting a 90-day licence for US companies to continue doing business with Huawei, Financial Times reported. ..
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.