Picture: REUTERS
Picture: REUTERS

The rand was marginally softer on Wednesday morning, under a little pressure after better-than-expected US retail sales numbers on Tuesday, as well as from renewed jitters over the US-China trade war.

Trump threatened new import tariffs against China, saying the country had failed to live up to a pledge to increase purchases of US farm products.

US retail sales numbers for June also weighed on emerging-markets, with the consensus-beating data reducing market expectations of a 50 basis point cut by the US Federal Reserve later in July a little.

At 8.45am the rand was 0.25% softer at R13.9886/$, 0.2% weaker at R15.6748/€ and 0.13% down at R17.337/£. The euro was flat at $1.1206.

Local focus on Wednesday is on retail sales data for May, with the consensus that sales rose 1.6% year on year in the second month of the second quarter.

gernetzkyk@businesslive.co.za