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South African rand slips as US-Iran stalemate pushes oil prices higher
JOHANNESBURG: The South African rand slipped half a percent in early trade on Monday as the US-Iran standoff continued to drive oil prices higher, weighing on risk-sensitive currencies in oil-importing economies. At 0734 GMT the rand traded at 16.40 against the dollar , about 0.5% weaker than its previous close. Oil prices climbed more than 3% on Monday with Brent crude futures last above $107 a barrel, after US President Donald Trump rejected a peace deal with Iran to resolve their conflict and reopen the Strait of Hormuz. South Africa imports most of its fuel, leaving the economy vulnerable ...
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