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Rand Wavers Amid Market Caution Following Trump Inauguration; Oil Dips Below $80

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The South African rand experienced a turbulent day on Tuesday, following the inauguration of US President Donald Trump. Initially shaky, the rand eventually settled at around R18.53 to the US dollar as global markets adopted a cautious “wait-and-see” stance toward Trump’s new policies.

Market Snapshot
On Wednesday morning, the rand traded at:

  • R18.50/USD
  • R22.84/GBP
  • R19.26/EUR

These movements reflect both global uncertainty and local economic pressures.

Local Factors at Play
Adding to the strain, South Africa’s mining output fell by 0.9% year-on-year in November, contrasting with the revised increase of 1.1% in October. This drop underscores ongoing challenges in one of the country’s key sectors.

Oil Prices Decline
Global oil prices also faced downward pressure, with Brent crude slipping below the $80 mark to trade at $79.10 per barrel. The dip comes amid concerns over global demand and potential policy changes under the new US administration.

As the markets digest Trump’s policy directions and South Africa faces domestic economic challenges, the rand’s trajectory remains uncertain. Investors will likely continue monitoring global developments and local data closely.

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