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The rand dropped against the US dollar on Friday, knocked by reports that US President Donald Trump's administration was weighing new restrictions on China, a major trading partner for South Africa. At 1440 GMT, the rand was at 15.1700 versus the dollar, 0.8% weaker than its previous close.

The South African currency was on course for losses of around 1.5% against the dollar this week, also hurt by longstanding worries over the health of the domestic economy. South African government bonds were little changed on Friday, with the yield on benchmark 2026 bond dipping 2.5 basis points to 8.295%. The Johannesburg Stock Exchange's All-share index closed down 0.11% at 55,209 points.

Gold stocks lost their shine, down 4.54%, as investors sought safety in the strong US dollar. AngloGold Ashanti declined 6.68% to 288.26 rand, Gold Fields shed 4.68% to 77.80 rand and Harmony fell 2.14% to 44.77 rand.

Copyright Reuters, 2019


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