Rand heads to R15/$ as US-China trade war fears soar
The local currency is also under pressure from concerns over Eskom’s debt levels, as well as downgrade warnings from Fitch and Moody’s
BL PREMIUM
06 August 2019 – 05:10
The rand and local equities reached two-month lows on Monday, joining a selloff in global markets as investors fled risky assets as an escalation in the US-China trade war revived worries about global growth.
Investors have been dumping risky assets after US President Donald Trump threatened last week to slap China with another 10% tariff on $300bn in imports (https://www.businesslive.co.za/bd/world/americas/2019-08-01-trump-breaks-ceasefire-with-10-tariff-on-300bn-in-chinese-imports/), abruptly ending a month-long truce in the bruising trade war between two of the world’s biggest economies.
Source: businesslive.co.za
