Rand slips a little after Chinese economic data disappoints
The rand staged a strong recovery on Tuesday against the dollar, but had pared those gains slightly on Wednesday after gloomy Chinese data
The rand was slightly softer on Wednesday morning, under pressure along with its emerging-market peers after Chinese data underscored the damage being inflicted on the global economy by the US-China trade war.
Chinese industrial output growth in July missed market expectations, rising only 4.8% year on year, compared with the market’s target of 5.8% growth. This is the lowest growth since 2002.