Rand heads for third day of losses as US-China tension flares up
The yield on the R2030 dropped to its lowest in more than a month on Thursday after the Reserve Bank cut the rate for the fifth time in 2020
BL PREMIUM
24 July 2020 – 11:54
The rand was set for its third day of losses on Friday amid concern about escalating tension between the US and China while, locally, investors mull the latest repo rate decision.
At 11.21am, the rand had weakened 0.61% to R16.7331/$, 0.70% to R19.4190/€ and 0.77% to R21.3072/£. The euro was flat at $1.1605. The rand has fallen 16% so far in 2020.
Source: businesslive.co.za
