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South African rand steady but tariff concerns linger
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South African rand steady but tariff concerns linger
Aug 6, 2025 1:17 AM

JOHANNESBURG, Aug 6 (Reuters) - The South African rand

was steady in early trade on Wednesday, with investor focus

still pinned on tariff updates before Washington's deadline.

At 0724 GMT, the rand traded at 17.88 against the dollar

, barely changed from Tuesday's close.

"The rand is trading below the R17.90 level this morning as

it continues to recover from Monday's tariff-driven blowout and

strong dollar," said Andre Cilliers, currency strategist at

TreasuryONE.

This week's major focus for the country is whether it can

negotiate a better trade pact as it faces a 30% duty on goods

exported to the U.S., the highest rate among Sub-Saharan African

countries.

The dollar last traded flat against a basket of

currencies as investors held back from making big bets ahead of

U.S. President Donald Trump's decision on appointments to the

Federal Reserve.

Trump on Tuesday said he would soon announce a short-term

replacement for Fed Governor Adriana Kugler, who announced her

resignation on Friday, as well as his pick for the next Fed

chair.

"The USD is losing its exceptionalism and is steadily

finding itself on the defensive, allowing other currencies to

make up lost ground," said ETM Analytics in a research note.

The Johannesburg Stock Exchange's Top-40 index was

up 0.6%

South Africa's benchmark 2035 government bond was

weaker in early deals, as the yield rose 3 basis points to

9.705%.

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