Rand Gains as South Africa’s Political Risk Premium Eases
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The rand led emerging-market currency gains against the faltering dollar after weekend reports raised hopes that a rift in South Africa’s governing coalition will be ironed out.
The currency rose 1.3% to 18.9267 per dollar by 2:38 p.m. in Johannesburg, rising for a second day and set for its strongest close in almost two weeks. Volatility remains high, suggesting traders are still hedging for wild swings amid uncertainty about President Donald Trump’s tariffs.