RAND WEAKER AS CHINA-US TRADE DEAL DELAY WEIGH

RAND WEAKER AS CHINA-US TRADE DEAL DELAY WEIGH

JOHANNESBURG – The rand weakened early on Monday, dragged lower by renewed uncertainty over the signing of a trade agreement between China and the United States.

At 0800 GMT, the rand was 0.62% weaker at R14.9420 per dollar, compared with a close of R14.8500 on Friday in New York.

Officials from Beijing and Washington said late last week that a rollback of some tit-for-tat tariffs had been agreed as part of a preliminary deal, but that has yet to be finalised – a delay that has led to risk appetite draining from global markets after initial optimism had lifted demand.

As a result, most emerging market currencies opened on the back foot against a climbing greenback.

Bonds also opened weaker, with the yield on the benchmark paper due in 2026 adding 7 basis points to 8.53%.

– Reuters

Facebook Comments

About author

Nigerians in South Africa
Nigerians in South Africa 2497 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

You might also like

Community 1Comments

Nigerian Women lambaste Nigerian men for preferring South African women to them.

Nigerian women across the globe lambaste Nigerian men who live in South Africa for preferring South African women to them according to a survey conducted by nigeriansinsouthafrica.co.za. They essentially say

NALEDI PANDOR ON ‘AFROPHOBIA’

South Africa has seen a spate of xenophobic attacks in recent months. The country’s Minister for International Relations, Naledi Pandor, has told BBC Hardtalk’s Stephen Sackur she could not deny

14 NIGERIAN MEN ACCUSED OF PUBLIC VIOLENCE CASE POSTPONED AGAIN

RUSTENBURG – Fourteen Nigerian men accused of public violence appeared briefly in the Rustenburg Magistrate’s Court on Tuesday. Their case was postponed to April 25, for a new lawyer representing

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply