Rand slips 1.5% after Trump tweet on land reform
The rand stretched overnight losses to 1.52% against dollar to 14.36 on Thursday as recovering demand for the greenback and worries about government’s land reform laws weighed down the currency.
I have asked Secretary of State @SecPompeo to closely study the South Africa land and farm seizures and expropriations and the large scale killing of farmers. “South African Government is now seizing land from white farmers.” @TuckerCarlson @FoxNews
— Donald J. Trump (@realDonaldTrump) August 23, 2018
United States President Donald Trump tweeted late on Wednesday that he would ask his Secretary of State to look closely at changes to land reform laws proposed by the ruling African National Congress.
Read: Trump says has asked Secretary of State to look at SA land seizures, farm killings
Source: moneyweb.co.za