US-China dispute, Brexit weigh on rand

The rand emerged as one of the biggest losers as worsening trade tension between China and the US combined with the prospect of the UK tumbling out of the EU without a deal soured investor sentiment towards riskier assets.

The JSE fell with its counterparts in the US and Europe, while the country’s bonds lagged behind their peers in those regions, which tend to benefit from a flight to safety in times of turmoil. SA’s 10-year bond yields, which move inversely to the price, rose by the most since September 26.