The rand was firmer against major global currencies on Thursday afternoon, leading the gains among its emerging-market peers, as investors wait for fresh catalysts.
Along with a post-election boost, local bonds were also benefiting from recent investor interest in major international bonds, such as US treasuries and German bunds, said Sasfin Wealth fixed-income trader Alvin Chawasema. At 2pm, the rand was 0.55% firmer at R14.1406/$, 0.53% stronger at R15.8425/€, and 0.76% up at R18.1206/£. The euro was flat at $1.1203.
The US-China trade war has been the main issue driving sentiment this week, but investors are seemingly still betting on a quick resolution to the conflict, said Rand Merchant Bank analyst
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