The Rand was weaker in early trade today, with investor attention pinned on key economic data expected during the week while investors also eyed an uncomfortably close August 1 deadline for U.S. President Donald Trump’s country-specific tariffs. At 0524 GMT the rand traded at 17.7475 against the dollar , 0.2% weaker than Friday’s close.
The risk-sensitive currency lost a bit of ground last week and remains on the back foot as cautious traders await tariff updates with the country facing a 30% duty on its exports to the U.S. and an interest rate decision by the South African Reserve Bank on Thursday.
Many traders and analysts expect another rate cut, moving just inside the central bank’s target range.
South Africa’s benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 1.5 basis points to 9.835%. Reuters