SOUTH AFRICAN RAND GAINS AFTER DOLLAR’S TARIFF FALTER

SOUTH AFRICAN RAND GAINS AFTER DOLLAR’S TARIFF FALTER

JOHANNESBURG – The rand gained early on Tuesday as broad dollar weakness supported investor appetite for riskier assets after Washington imposing additional tariffs on Chinese imports.

At 0645 GMT the rand was 0.35% stronger at R14.8750 per dollar compared with its New York close of R14.9275.

Trade-war tensions have intensified as US President Donald Trump imposed additional 10% tariffs on about $200 billion worth of Chinese imports on Monday.

Washington has imposed tariffs on $50 billion worth of Chinese products to pressure China to make sweeping changes to its trade, technology transfer and high-tech industrial subsidy policies. Beijing has retaliated and talks between the world’s two largest economies to resolve their trade differences have produced no results.

The rand is expected to trade at R14.80 to R15.10 to the dollar on Tuesday, according to an early NKC African Economics note.

In fixed income, the yield on the benchmark government bond due in 2026 was flat at 9.250%.

Stocks were set to open higher at 0700 GMT, with the JSE securities exchange’s Top-40 futures index up 0.07%.

Facebook Comments

About author

Nigerians in South Africa
Nigerians in South Africa 1725 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

Politics 0 Comments

President Buhari Promises To Resign If He Fails To Recover Soon

President Muhammadu Buhari has given a timeline that he may resign by a specific time if he doesn’t recover from his undisclosed illness. Buhari left Nigeria for London on May

VELLIE P WELCOMES YOU TO HIS WORLD WITH HIS DEBUT SINGLE, “ALL I DO”

Hakeem Opeyemi, who professionally goes by the stage name “Vellie P” releases his debut single under 1806 Lyfestyle titled, “All I Do.” Nigerian born, South Africa based hip-hop artist and

PHOTOS FROM THE BANKY W AND ADESUA’S WEDDING IN CAPE TOWN, SOUTH AFRICA

Oluwabankole Wellington a.k.a Banky W and Adesua Etomi tied nuptial knot the in Cape Town, South Africa, Saturday. Facebook Comments

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply