South African Rand Steady Amid US-China Trade Tensions and Fed Rate Cut Expectations
The South African rand showed stability in early Monday trading as global markets remain cautious about US-China trade tensions and Federal Reserve policy. Domestic investors await key economic data including mining production and retail sales figures for Africa’s largest economy.
The South African rand maintained stability in early Monday trading sessions as global market participants remained wary of escalating US-China trade tensions and shifting expectations regarding Federal Reserve interest rate adjustments, with the US government shutdown entering its thirteenth consecutive day. At 0826 GMT, the currency traded at 17.3175 against the US dollar, representing approximately 1% strengthening compared to Friday’s closing levels.
