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Rand firms ahead of US-China trade deal signing

By 0630 GMT, the rand traded at 14.3100 per dollar, 0.45% firmer than its close on Friday.

Picture: EWN.

JOHANNESBURG - The rand strengthened against the dollar early on Monday as the imminent signing of the Sino-US Phase 1 trade deal boosted risk appetite globally, though a power crunch that has dimmed the domestic economic growth outlook remained a risk.

By 0630 GMT, the rand traded at 14.3100 per dollar, 0.45% firmer than its close on Friday.

The trade agreement, due to be signed at the White House on Wednesday, marks the first step towards ending a damaging 18-month trade dispute between the world’s two largest economies.

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