The Trump Administration has released a $200bn hot list of Chinese goods to be hit with a 10% tariff ‘after a 2-month consultation period’.

This is not good news for emerging markets, and we are yet to hear what retaliatory measures China has up its sleeve. Speaking of Trump, the US President set off on his European adventure yesterday, where he’ll be meeting NATO leaders, British PM May and Russian President Putin (watch this space closely, or maybe just Twitter).

The rand is back over 13.40/$, and will struggle to claw back lost ground if there is no de-escalation in trade war rhetoric. Locally, struggling national carrier SAA announced that they had reached an agreement with the government to find an equity partner, which should lift the burden off state coffers. It’s England vs Croatia @ 20:00 tonight, enjoy!

Latest Rates

USD/ZAR 13.4381
GBP/ZAR 17.8350
EUR/ZAR 15.7703
ZAR/JPY 8.2615
CNY/ZAR 2.0186
AUD/ZAR 9.9615
CHF/ZAR 13.5547
AED/ZAR 3.6591
SGD/ZAR 9.8898
NOK/ZAR 1.6722
EUR/USD 1.1732
GBP/USD 1.3274
GBP/EUR 1.1312

All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.

*Commentary by Gareth Frye

Author: Don V