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The rand strengthened on Wednesday to 14.13 per dollar, helped by reports that China and the US had resolved most issues blocking a trade deal. The currency had earlier reached a six-week high of 14.07 after Moody's positive credit opinion.
Gains faded later in the session on concerns about Eskom, the state power utility.
Improved US-China trade prospects support risk appetite and emerging-market currencies, which can ease the local cost of imported feed. Eskom-related power risk is a domestic factor that could limit the rand's gains.
moneyweb.co.zaMfuneko Toyana, ReutersApr 3, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
