Rand extends losses against greenback

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The rand has extended losses against the greenback, as the attempted assassination of former US President Donald Trump reduced demand for riskier assets and increased demand for safe havens abroad.

The decline in the risk-sensitive local currency followed trends observed in other emerging market currencies.

This as speculators wagered that the attack would increase Trump’s chances of winning the US election in November.

Locally, this week’s primary domestic driver will be the South African Reserve Bank’s interest rate decision, due on Thursday.

The focus will be on any potential timing clues for an interest rate cut after a series of hold decisions.

The rand is currently trading at R18.20 to the dollar.