BUSINESS NEWS - South Africa’s rand weakened against the dollar on Thursday as the greenback rose amid signs the United States may negotiate a resolution to a trade dispute with China, while stocks edged higher.
At 15.28 GMT, the rand was at 11.9825 per dollar, 0.95% weaker than Wednesday’s close.
The dollar bounced after President Donald Trump’s economic adviser said the US administration was negotiating with China, not engaging in a trade war, easing investor fears about tit-for-tat measures hurting global growth.
The rand has lost more than 1% against the dollar since 29 March, according to Thomson Reuters data, as the trade tiff between the world’s two largest economies escalated.
Rand eases as dollar edges up
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Posted on: 08:57 Fri, 06 April 2018
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