The rand followed in the footsteps of emerging market currencies and global equities to end last week in the green.
The local unit opened the week slightly on the back foot as risk aversion lingered. This week the rand will be in the firing line on both the international and local front. Abroad, a 25% tariff on $16bn of Chinese imports comes into effect on Wednesday with a Chinese trade delegation landing in the US on the same day, the US Fed will hold a 3 day symposium starting on the 23rd with investors keeping an eye on policy indications, and markets will be hoping for sanity on the Turkish crisis.
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