SA rand weaker as investors seek shelter in dollar
JOHANNESBURG – South Africa’s rand weakened early on Monday as the dollar gained against riskier currencies, with investors watching developments in the China-U.S. trade dispute and a slew of domestic and global economic indicators this week.
At 0610 GMT, the rand traded at 15.1800 per dollar, 0.3% weaker than its close on Friday, when the currency fell to a session low of 15.1975, its weakest since Sept. 3.
Risk assets took a hit in U.S. trade on Friday following news that President Donald Trump’s administration is considering radical new financial pressure tactics on Beijing, including the possibility of delisting Chinese companies from U.S. stock exchanges.
Source: iol.co.za