JOHANNESBURG - The rand started the European session on the front foot on Friday as optimism regarding the US-Sino trade deal lifted emerging market currencies according to NKC Research.
Investor sentiment improved on the back of reports that progress has been made between Beijing and Washington, raising hopes of an agreement after earlier concerns of a delay to April. However, the announcement by Eskom that load shedding will prevail throughout the weekend curtailed more decisive rand recovery as the supply-side constraint continues to dampen the outlook for the domestic economy and feeds into deteriorating business confidence. At the close of local trade, the rand quoted 0.6 percent stronger at R14.41/$, after trading in a range of R14.39/$ - R14.50/$. The rand traded slightly weaker overnight. Expected range today R14.30/$ - R14.50/$.
South African bourse