Market News
Rand and Bonds Take a Hit as Trump Hones in on South Africa - BLOOMBERG
- South African currency slumps as much as 1.4% on US aid freeze
- Trump has falsely claimed that South Africa is seizing land
South African markets got off to a rocky start this week after President Donald Trump froze all US aid to South Africa over what he falsely claimed were rights violations stemming from a new land-expropriation law.
While global markets were mixed on Monday in reaction to Trump’s latest tariffs, South Africa’s rand initially weakened and government bond yields rose after he singled out the country for censure.