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The rand was slightly weaker resistant to the dollar on Tuesday along with other emerging currencies as demand for risk always been subdued globally, while stocks were marginally lower weighed down by gold stocks.

At 15:55 GMT the rand was 0.14% weaker at 14.49 per dollar, the feeling softer it really is session better of 14.35 reached in earlier as about a de-escalation in the Sino-US tariff war spurred some buying.

“The retreat in global equity markets is just not nice thing about it for emerging market currencies, the rand included. Theoretically speaking, the USD-ZAR will run across tough resistance towards 14.70 around the topside,” said Investec in a very note to clients.

The rand has traded inside a tight range corporations 2 weeks, dipping below 14.00 last Wednesday in order to snap back as being the greenback launched a rally that carried it towards a 16-month peak.

With no major data releases locally bar Wednesday’s retail figures, traders anticipate an upside push near 14.80 recently and a small chance for the rand testing resistance near 14.20.

Bonds were weaker, when using the yield within the benchmark 10-year government paper up 2 basis points to 9.245%.

In equities, the All Share index was 0.29% lower at 52,110 points although blue chip Top-40 was down 0.21% to 45,833 points.

Gold stocks were 1.15% lower with Africa’s top producer AngloGold falling 0.95%.

“It remains a place driven by negative sentiment overall plus the information mill a little directionless at this time,” said Ferdi Heyneke, portfolio manager at Afrifocus Securities.

MTN bucked the buzz, rising 1.44% to 81.04 rand after its CEO Rob Shuter said the organization is making progress in resolving a $10.1 billion funds repatriation and government tax bill depute with Nigerian authorities which was trying to get a mobile banking licence in Nigeria.

“There’s often destined to be buying into that share on any positive news in regards to Nigeria. You will find still a lot of uncertainty around them as well as market will probably be waiting for developments,” Greg Davis, equities trader at Cratos Capital.?