georgemiller
Publish Date: Tue, 26 Nov 2024, 08:22 AM

JOHANNESBURG, Nov 26 (Reuters) - South Africa's rand slipped on Tuesday as U.S. President-elect Donald Trump's tariff threat on its neighbours and China weighed on emerging markets.
At 1508 GMT, the rand traded at 18.20 against the dollar , about 0.8% weaker than its previous close.
On Monday, Trump pledged to impose big tariffs on the United States' three largest trading partners - Canada, Mexico and China - detailing how he will implement campaign promises that could trigger trade wars.
Commodity-linked currencies including the rand took a hit following the announcement due to their close ties to China.
"China's role as SA's largest trading partner puts the country at risk of indirect consequences," said Andre Cilliers, currency strategist at TreasuryONE.
On the stock market, the Top-40 (.JTOPI) , opens new tab index closed up 0.62%.
South Africa's benchmark 2030 government bond was weaker, with the yield up 11 basis points at 9.055%.
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https://www.reuters.com/markets/currencies/south-african-rand-slips-trump-tariff-jitters-2024-11-26/