JOHANNESBURG - The South African currency traded on the front foot yesterday on hopes that Sino-US trade tensions could soon be defused according to NKC Research.
The local unit recovered from its weakest level in nearly a week after China, on August 23, announced retaliatory trade tariffs on US imports which lead to an escalation in the trade war. At the close of local trade, the rand quoted 0.77 percent stronger at R15.23/$, after trading in range of R15.19/$ - R15.44/$. The rand dipped weaker overnight. Expected range today R15.15/$ - R15.45/$.
South African bourse