The rand was firmer on Tuesday afternoon — the second-best-performing emerging-market currency — as calm returned to the markets after China dialled back its currency weakness, easing trade-war jitters that saw the rand test the R15/$ level on Monday.

The People’s bank of China (PBOC) acted on Tuesday to contain the yuan’s weakness after it plunged below 7/$ after US President Donald Trump imposed a 10% tariff on Chinese imports worth $300bn last week...

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