JOHANNESBURG – The rand weakened early on Monday, dragged lower by renewed uncertainty over the signing of a trade agreement between China and the United States.

At 0800 GMT, the rand was 0.62% weaker at R14.9420 per dollar, compared with a close of R14.8500 on Friday in New York.

Officials from Beijing and Washington said late last week that a rollback of some tit-for-tat tariffs had been agreed as part of a preliminary deal, but that has yet to be finalised – a delay that has led to risk appetite draining from global markets after initial optimism had lifted demand.

As a result, most emerging market currencies opened on the back foot against a climbing greenback.

Bonds also opened weaker, with the yield on the benchmark paper due in 2026 adding 7 basis points to 8.53%.

– Reuters

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Nigerians in South Africa
Nigerians in South Africa 9744 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

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