The rand weakened on as emerging market currencies lost ground. With further deterioration in the United States and China trade relations causing a subdue in demand for risk assets.
By 10:30 GMT the rand was 0.32 percent against the dollar at 15.03 .
The threat of Washington imposing heavier trade sanctions on Beijing intensified after US President Donald Trump said on Tuesday he would take a tougher stance with China on trade.
China, on Wednesday slashed its forecast for 2018/19 soybean imports as farmers reduce their use of the bean in animal feed because of the Sino-US trade conflict, which will threaten Washington’s supplies of the oilseed to China.
The local market awaits the release of retail sales data at 11:00 GMT for July, with the market expecting a 1.3 percent increase year on year from a 0.7 percent rise in June.
Government bonds were weaker, with the yield on the benchmark paper due in 2026 rising 3 basis points to 9.180 percent.
– REUTERS
