JOHANNESBURG - The South African rand oscillated as volatile risk sentiment took cues from US-Sino trade developments and slashed hopes of a quick resolution, although upbeat industrial data from China lifted the mood according to NKC Research.
After risk appetite returned late in the Monday session on optimism of a resolution between Beijing and Washington amid escalating tensions last week, doubts cast on US claims at the sidelines of the G7 summit that the trade counterparts will return to the negotiating table fed into renewed risk-off sentiment. At the close of local trade, the rand quoted 0.24 percent weaker at R15.33/$, after trading in range of R15.25/$ - R15.39/$. The rand traded little changed overnight. Expected range today R15.20/$ - R15.50/$.
South African bourse