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Rand dips as US-China trade deal uncertainty lingers

At 0645 GMT, the rand was 0.15% weaker at 14.8250 per dollar from an opening level of 14.7930.

FILE. Picture: AFP

JOHANNESBURG - The rand inched lower in early trade on Wednesday, tracking its emerging market peers in Asia as continued uncertainty about the outcome of US-China trade talks kept big bets at bay.

At 0645 GMT, the rand was 0.15% weaker at 14.8250 per dollar from an opening level of 14.7930.

US President Donald Trump said overnight that Washington was in the “final throes” of work on a deal to defuse the trade war, after top negotiators from the two countries spoke by telephone on Tuesday.

The comments boosted hopes that the dispute would be resolved by year-end. The dollar gained and Wall Street’s three major indexes hit all-time highs, with emerging market currencies slipping as a result.

Bonds were slightly weaker, with the benchmark government issue due in 2026 adding 0.5 basis point to 8.48%.

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