The rand lost ground at the weekend following US President Donald Trump's threat to impose more tariffs on China.
With elections just two days away, economists, policymakers and politicians are watching the rand.Trump's threat to impose more tariffsThe rand was mixed against major currencies on Monday afternoon, as investors waited for new catalysts from either the US-China trade talks or the general elections.
“With developments at home and external drivers in the form of renewed US-China trade tension seen pulling and tugging at the rand, investors should fasten their seat belts and prepare for a potentially volatile trading week ahead,” FXTM analyst Lukman Otunuga said. At 2.10pm the rand was flat at R14.5162/$ after ending Friday at R14.35. It was 0.32 percent weaker at R16.2599/€, but 0.27 percent firmer at R19.0177/£. The euro was 0.19 percent firmer at $1.12.Asian Markets kicked off Monday on a bad note with the Shanghai Composite down 5.68 percent and the Hong Kong Hang Seng down almost 3 percent.
The rand has overtaken the Turkish lira as the most volatile emerging-market currency on a one-week basis, Bloomberg data shows.
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