Rand firmer but tests R15/$ on trade war jitters
The local currency is stronger as investors await new developments in the escalating trade war between the US and China
07 August 2019 - 10:29
The rand was firmer on Wednesday but flirted with the R15/$ level in the morning session as investors await developments in the US-China trade war.
In a rapid sell-off, the rand hit R14.99/$ — a level it has not reached in more than two months as US-China trade war jitters decreased the appetite for riskier assets. The trade war took another turn this week after the US labelled China as a currency manipulator after the yuan weakened to its worst level in 11 years. ..
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