August 24, 2017 / 7:23 AM / in 10 months

South African rand edges lower as emerging markets wobble

JOHANNESBURG - South Africa’s rand weakened in early trade on Thursday as emerging markets gave back recent gains after U.S. President Donald Trump cast doubt on the future of the North American Free Trade Agreement.

New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. REUTERS/Siphiwe Sibeko

* At 0624 GMT, the rand traded at 13.1700 to the dollar, 0.13 percent weaker than its overnight close in New York close.

* Headline consumer inflation slowed to its lowest since September 2015, falling to 4.6 percent year-on-year in July.

* Trump warned he might terminate the NAFTA pact with Mexico and Canada after three-way talks failed to bridge deep differences.

* Government bonds gained, and the yield for the benchmark bond due in 2026 fell 5 basis points to 8.580 percent.

Reporting by Joe Brock, editing by Larry King

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below