Rand gains after dollar’s tariff falter


The rand gained in the beginning Tuesday as broad dollar weakness supported investor appetite for riskier assets after Washington imposing additional tariffs on Chinese imports.

At 0645 GMT the rand was 0.35% stronger at 14.87 per dollar in comparison with its Ny close of 14.92.

Trade-war tensions have intensified as US President Mr . trump imposed additional 10% tariffs on about $200 billion valuation on Chinese imports on Monday.

Washington has imposed tariffs on $50 billion importance of Chinese products to pressure China to help make sweeping changes to the trade, technology transfer and high-tech industrial subsidy policies. Beijing has retaliated and talks regarding the world’s two largest economies to solve their trade differences have produced no results.

The rand is expected to trade at 14.80 to 15.10 to the dollar on Tuesday, based on an early NKC African Economics note.

In fixed income, the yield on the benchmark government bond due in 2026 was flat at 9.250%.

Stocks were set to read higher at 0700 GMT, together with the JSE securities exchange’s Top 40 Futures Index up 0.07%.?