Views Article – Sharenet Wealth

Africa, Forex

South Africa’s rand slips ahead of rate decision as trade fears weigh

JOHANNESBURG – South Africa’s rand slipped against a firm dollar on Wednesday, as investors held off big trades a day ahead of a central bank rate decision.

The rand stood at 13.97 verses the greenback by 0558 GMT, a 0.13% decline compared with Tuesday’s close.

The mood across emerging markets was not helped by U.S. President Donald Trump’s threat to put tariffs on another $325 billion of Chinese goods.

South African government bonds were also slightly weaker, with the yield on the benchmark 2026 instrument rising 1.5 basis points to 8.040%.

(Editing by Andrew Heavens)

South African Rand coins are seen in this photo illustration

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Array ( [0] => stdClass Object ( [id] => 1301934 [url] => OZABS-UK-SAFRICA-MARKETS [image] => 2020-01-13T071104Z_1_LYNXMPEG0C0CX-OZABS_RTROPTP_1_OZABS-UK-SAFRICA-MARKETS.JPG [image2] => 2020-01-13T071104Z_1_LYNXMPEG0C0CX-OZABS_RTROPTP_3_OZABS-UK-SAFRICA-MARKETS.JPG [image_caption] => South African Rand coins are seen in this photo illustration [date] => 2020-01-13 [tdate] => 2020-01-13 07:20:01 ) )