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South African rand nears all-time low on tariff turmoil and coalition tension

The South African rand weakened to near its all-time low, trading at 19.745 against the dollar, due to escalating tensions over potential U.S. tariffs on South African goods and political uncertainty within the country's coalition government. The U.S. is considering imposing tariffs on South African exports like macadamia nuts and wine in response to South Africa's new health regulations on alcohol labeling, which the U.S. believes unfairly targets American products. Additionally, the rand's decline is exacerbated by domestic issues, including disagreements within the coalition government led by the African National Congress (ANC), which has struggled to form a stable government since the recent elections, further undermining investor confidence and contributing to the currency's depreciation.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/south-african-rand-nears-all-time-low-on-tariff-turmoil-and-coalition-tension/ar-AA1CzDwb ]