JOHANNESBURG - The rand extended losses on Monday, reaching its weakest level in 11 months, as domestic political uncertainty compounded global risk-off sentiment entrenched in US-Sino trade uncertainty according to NKC Research.
Markets remained cautious after US President Trump indicated on Friday that a round of trade talks scheduled for September may not proceed. At the close of local trade, the rand quoted 0.9 percent weaker at R15.35/$, after trading in range of R15.22/$ - R15.46/$. The rand traded steady overnight. Expected range today R15.10/$ - R15.40/$.
South African bourse