South African Rand Weakens, Dollar Rises

South African Rand Weakens, Dollar Rises South African Rand Weakens, Dollar Rises
South African Rand and Dollars. Credit: Reuters

The South African rand weakened in early trading on Tuesday as U.S. markets prepared to reopen after the Labour Day holiday.

By 06:11 GMT, the rand was trading at 17.6450 to the dollar, approximately 1% lower than its close on Monday.

Global investors continued to weigh Friday’s U.S. inflation data alongside a court ruling that declared most of former President Donald Trump’s tariffs illegal, as well as his ongoing clash with the Federal Reserve over his attempt to dismiss Governor Lisa Cook.

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South African Rand Weakens, Dollar Rises
South African Rand Weakens, Dollar Rises. Credit Reuters

Like other risk-sensitive currencies, the rand tends to track global developments, particularly U.S. policy moves and economic indicators, when there are no major domestic data releases.

South Africa’s benchmark 2035 government bond also edged weaker in early trade, with the yield at 9.595%.

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  • Chinomso Sunday

    Chinomso Sunday is a Digital Content Writer at News Central, with expertise in special reports, investigative journalism, editing, online reputation, and digital marketing strategy.

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