Rand slips after poor local manufacturing data

A picture illustration shows a South African two Rand coin April 4, 2017.

File: At 10:05am the rand was 0,45% firmer at R13,9687/$, 0,11% up at R15,8115/€ and 0,48% stronger at R18,2213/£.

Reuters/Illustration

JOHANNESBURG - The rand was weaker against major currencies on Friday morning, retreating back above the R14 to the dollar mark amid some caution.

International focus has been on US corporate earnings, but sentiment has been dampened this week by concerns President Donald Trump's ongoing trade war will further hobble global economic growth.

Trump has threatened to levy tariffs on $11-billion worth of EU goods in retaliation for subsidies to aircraft manufacturer Airbus.

Earlier this week the rand firmed below R14 to the dollar for the first time since late February, strengthening after an upbeat opinion of South Africa by Moody’s Investors Service.

Source
eNCA