JOHANNESBURG - The rand had a slow start during Friday’s session, as emerging market currencies tracked the peso in the wake of US President Donald Trump’s vow to punish Mexico for illegal immigration by introducing a tariff on all Mexican imports according to NKC Research.
Higher tariffs will start at 5 percent on June 10, and will increase by five percentage points each month until reaching 25 percent in October, remaining in place until Mexico addresses the “influx of illegal aliens.” That said, the rand bounced back later in the session. At the close of local trade, quoted 1.6 percent stronger at R14.60/$, after trading in a range of R14.59/$ - R14.85/$. The rand oscillated in a narrow band over the weekend. Expected range today R14.40/$ - R14.70/$.
South African bourse