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Rand starts week on back foot against dollar

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The rand was around the back foot resistant to the dollar as soon as possible Monday as investors awaited exactly a new round of folks tariffs against China later inside day and also a local mortgage rates decision due on Thursday.

At 0650 GMT the rand was 0.69% weaker at 15.02 per dollar compared its close of 14.92 on Friday.

US President Donald Trump will probably announce new tariffs on about $200 billion of Chinese imports around Monday, a senior administration official told Reuters.

This week investor attention also turns southern area African Reserve Bank (Sarb), which announces its home interest rates decision on September 20.

All bar among the many economists polled by Reuters a week ago predicted the fact that Sarb would go away its main lending rate at 6.5%, because it weighs economic weakness against a pickup in inflation.

In fixed income, the yield to the benchmark government bond due in 2026 was up 2.5 basis points to 9.200%.

Stocks were set to read lower at 0700 GMT, with the JSE securities exchange’s Top 40 Futures index down 0.63%.

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