Rand enjoys some support as global political events unfold
Global markets remain under pressure due to the trade war between the US and China, with no sign that they will reach a deal soon
The rand was slightly firmer against major currencies as the markets keep a watchful eye on unfolding global political events. Global markets remain under pressure due to the tension between the US and China, with the two economic superpowers showing no signs of reaching a deal soon. Investors are closely watching US president Donald Trump’s visit to Japan. The four-day visit is an effort to strengthen the alliance between the two countries in the face of the US-China trade tension. Trump expressed confidence in the trade negotiations between the US and Japan, saying he expects “big numbers” on trade after the Asian country’s elections in July.
Podcast | Business Day Spotlight - Huawei vows it will not crack under pressure