Investors await further developments in the US-China trade war, but the local currency is still benefiting from positive post-election sentiment
The rand was firmer against major global currencies on Thursday afternoon, leading the gains among its emerging-market peers, as investors wait for fresh catalysts.
Along with a post-election boost, local bonds were also benefiting from recent investor interest in major international bonds, such as US treasuries and German bunds, said Sasfin Wealth fixed-income trader Alvin Chawasema. At 2pm, the rand was 0.55% firmer at R14.1406/$, 0.53% stronger at R15.8425/€, and 0.76% up at R18.1206/£. The euro was flat at $1.1203.
The US-China trade war has been the main issue driving sentiment this week, but investors are seemingly still betting on a quick resolution to the conflict, said Rand Merchant Bank analyst
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand steady amid US-China trade talk hopesThe rand steadied in early trade on Wednesday, as optimism surrounding trade talks between Washington and Beijing boosted market sentiment.
Read more »
Rand falls on risk aversion as US-China trade war heats upSouth African markets strengthened on Friday on expectations of political continuity, as the governing African National Congress (ANC) headed for a national election victory.
Read more »
Rand weakens a touch as markets await next move in US-China trade warDespite the increased volatility caused by the fight, some analysts are confident that it will not prompt significant weakness in the rand
Read more »
Rand sheds post-election gains as US-China trade war heats upThe rand has weakened as China as the US go tit for tat on import tariffs
Read more »
Rand sheds post-election gains as China-US trade war heats upThe rand has weakened as China and the US go tit for tat on import tariffs
Read more »
Rand softer as US-Sino trade war deepensWashington has imposed sanctions on Chinese telecom giant Huawei, adding to fears the conflict will escalate
Read more »
Trade tensions hold rand downThe week’s trade tensions have snatched away some of the rand’s gains after the ruling African National Congress (ANC) looked set for victory in a parliamentary and provincial election last week.
Read more »
Rand slips as trade tensions weigh on risk demandHaving rallied to a two-week best of R14.1375 after the ruling African National Congress won a 57.5% majority that many investors see as key to economic reforms, the rand has slipped back towards the R14.40 mark.
Read more »
The PIC and VBS-linked deals that will keep lawyers busyAn application to liquidate two small companies reveals the movement of millions of rand.
Read more »
Rand steady as ANC takes lead in electionsThe ANC is set to retain power after Wednesday’s election though the party is on course for its worst performance in a national poll in its 25 years in government.
Read more »