Rand weakens a touch as markets await next move in US-China trade war

The rand was slightly weaker on Wednesday afternoon as markets waited for further developments in the US-China trade war.

Despite the increased volatility caused by the ongoing battle between the two economic superpowers, some analysts are confident that the trade war will not prompt significant weakness in the rand. “It will fluctuate around R14.30/$ with the changes in the rhetoric of the trade war, which could go either way in the next couple of days.”

Gold rose 0.21% to $1,299.56/oz, while platinum fell 0.82% to $849.63; Brent crude was flat at $70.80 a barrel.

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