Rand heads to R15/$ as US-China trade war fears soar
The local currency is also under pressure from concerns over Eskom’s debt levels, as well as downgrade warnings from Fitch and Moody’s
06 August 2019 - 05:10
The rand and local equities reached two-month lows on Monday, joining a selloff in global markets as investors fled risky assets as an escalation in the US-China trade war revived worries about global growth.
Investors have been dumping risky assets after US President Donald Trump threatened last week to slap China with another 10% tariff on $300bn in imports (https://www.businesslive.co.za/bd/world/americas/2019-08-01-trump-breaks-ceasefire-with-10-tariff-on-300bn-in-chinese-imports/), abruptly ending a month-long truce in the bruising trade war between two of the world’s biggest economies...
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