South Africa’s Rand Ends Slide After Weak US Jobs Report

The South African rand strengthened against the dollar on Friday, erasing earlier losses after a key report showed the US labor market cooled sharply over the past three months.

The currency rose 0.9% to 18.06 per dollar as of 3:14 p.m. in Johannesburg, halting its longest losing streak since 2022. The rand had been under pressure recently as President Donald Trump pushed ahead with plans to impose a 30% tariff on South Africa’s exports to the US.