Rand breaks three-day winning streak as investors await US-China trade news
Sentiment was boosted earlier this week after reports that the US may consider withdrawing some tariffs on Chinese imports
06 November 2019 - 10:43
The rand pared gains on Wednesday morning, breaking its three day winning streak as investors await more direction in the US-China trade war.
The rand weakened as much as R14.82/$ in intra day trade on Wednesday after closing at R14.75/$ on Tuesday. The premium on options to sell the rand against the dollar over those to buy it over the next month, known as the delta-25 risk reversal, was at a 19-months low of 1.7%, according to Bloomberg data. ..
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