Rand and bonds push to three-week highs on Election2019Results optimism.
The rand was one of the best-performing emerging-market currencies on Friday afternoon, lifted by an improved global mood, and by the local election results, which continue to come in.
However, US President Donald Trump said he would start the “paperwork” on Friday for 25% duties on a further $325bn of Chinese imports. The rand’s volatility has dropped, and local bonds have pushed to three-week highs. The rand is expected to be the third-most volatile currency over the next week, according to Bloomberg data, behind the Brazilian real and Turkish lira.The benchmark R186 government bond was bid at 8.45%, from 8.54%, its strongest level in three weeks.
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