20°C / 22°C
  • Sun
  • 27°C
  • 13°C
  • Mon
  • 28°C
  • 12°C
  • Tue
  • 27°C
  • 13°C
  • Wed
  • 28°C
  • 12°C
  • Thu
  • 28°C
  • 16°C
  • Fri
  • 30°C
  • 14°C
  • Sun
  • 18°C
  • 12°C
  • Mon
  • 20°C
  • 11°C
  • Tue
  • 16°C
  • 12°C
  • Wed
  • 17°C
  • 12°C
  • Thu
  • 18°C
  • 12°C
  • Fri
  • 16°C
  • 10°C
  • Sun
  • 29°C
  • 14°C
  • Mon
  • 31°C
  • 14°C
  • Tue
  • 29°C
  • 14°C
  • Wed
  • 31°C
  • 14°C
  • Thu
  • 32°C
  • 18°C
  • Fri
  • 32°C
  • 17°C
  • Sun
  • 29°C
  • 14°C
  • Mon
  • 30°C
  • 14°C
  • Tue
  • 30°C
  • 16°C
  • Wed
  • 31°C
  • 14°C
  • Thu
  • 31°C
  • 15°C
  • Fri
  • 32°C
  • 17°C
  • Sun
  • 25°C
  • 17°C
  • Mon
  • 22°C
  • 19°C
  • Tue
  • 29°C
  • 19°C
  • Wed
  • 23°C
  • 19°C
  • Thu
  • 23°C
  • 18°C
  • Fri
  • 31°C
  • 18°C
  • Sun
  • 18°C
  • 10°C
  • Mon
  • 19°C
  • 9°C
  • Tue
  • 18°C
  • 12°C
  • Wed
  • 20°C
  • 12°C
  • Thu
  • 20°C
  • 13°C
  • Fri
  • 18°C
  • 13°C
  • Sun
  • 21°C
  • 5°C
  • Mon
  • 23°C
  • 8°C
  • Tue
  • 16°C
  • 9°C
  • Wed
  • 16°C
  • 9°C
  • Thu
  • 21°C
  • 9°C
  • Fri
  • 14°C
  • 7°C
  • Sun
  • 18°C
  • 10°C
  • Mon
  • 18°C
  • 10°C
  • Tue
  • 16°C
  • 11°C
  • Wed
  • 16°C
  • 11°C
  • Thu
  • 19°C
  • 12°C
  • Fri
  • 14°C
  • 9°C
  • Sun
  • 31°C
  • 16°C
  • Mon
  • 33°C
  • 15°C
  • Tue
  • 31°C
  • 15°C
  • Wed
  • 33°C
  • 14°C
  • Thu
  • 33°C
  • 17°C
  • Fri
  • 34°C
  • 16°C
  • Sun
  • 30°C
  • 12°C
  • Mon
  • 31°C
  • 11°C
  • Tue
  • 30°C
  • 14°C
  • Wed
  • 30°C
  • 14°C
  • Thu
  • 31°C
  • 15°C
  • Fri
  • 31°C
  • 11°C
  • Sun
  • 27°C
  • 15°C
  • Mon
  • 29°C
  • 13°C
  • Tue
  • 30°C
  • 14°C
  • Wed
  • 33°C
  • 12°C
  • Thu
  • 29°C
  • 15°C
  • Fri
  • 33°C
  • 15°C
  • Sun
  • 16°C
  • 9°C
  • Mon
  • 21°C
  • 9°C
  • Tue
  • 17°C
  • 11°C
  • Wed
  • 20°C
  • 11°C
  • Thu
  • 22°C
  • 12°C
  • Fri
  • 17°C
  • 10°C

Rand recovers slightly as Trump's tariff hurts dollar

Trump’s tariff plan sparked fears of an imminent trade war and worries about its potentially negative impact on the world’s largest economy, dragging the dollar back from six-week highs.

Picture: Christa Eybers/EWN

JOHANNESBURG - The rand opened weaker against the dollar on Friday, but had regained some ground lost in the previous session as US President Donald Trump’s decision to impose tariffs on steel and aluminium stalled the greenback’s recent recovery.

At 0640 GMT the rand was 0.27% weaker at R11.8800 per dollar, a touch better than Thursday’s slide to a 2-week worst of R11.9450 triggered by bets the US Federal Reserve could raise interest rates at least four times in 2018.

Trump’s tariff plan sparked fears of an imminent trade war and worries about its potentially negative impact on the world’s largest economy, dragging the dollar back from six-week highs.

With no data releases locally and mid-tier data releases offshore, traders are set to eye the R11.90 technical resistance level as an indicator of momentum.

Stocks were set to open softer with the benchmark Top-40 futures index down 0.5%.

Bonds were also softer, with the yield on the benchmark paper due in 2026 up half a basis point to 8.14%.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus