The currency traded in a tight range on Wednesday, touching R14.94 to the dollar overnight and dipping to R15.02 by mid-afternoon as world trade tensions intensified.
In a speech at the annual UN General Assembly in New York, US President Donald Trump criticised China's trade practices and said he would not accept a “bad deal” in the ongoing negotiations between the powers.
China reiterated by saying it had no intention to “play the Game of Thrones on the world stage”, but warned Washington to respect its sovereignty, including in Hong Kong.
However, most of the implied volatility in the market came from current Iran-Saudi Arabia-US relations, as some heated talks are expected to continue around sanctions. This, coupled with the recent extreme movements in oil, strengthened the dollar against emerging markets such as the rand.