The rand was boosted by local political developments but sentiment remains subdued amid growing US-China trade tension
The rand was slightly firmer on Friday afternoon, set to close higher after a volatile week, amid a host of global and local developments.
Efficient Group economist Dawie Roodt said that if the trade war continued, investors would run to where they felt safe — US dollars. “In the short term, the trade war is likely to be dollar positive but rand negative,” he said. Gold was flat at $1283.51/oz and platinum gained 0.64% to $804.3. Brent crude rose 1.06% to $68.60 a barrel.
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