South African assets rally in early deals as US-Iran ceasefire lifts risk appetite
South Africa's rand, government bonds and stocks surged on Wednesday, paring some losses amassed since the start of the Iran war after US President Donald Trump agreed to a two-week ceasefire, a move that eased fears of energy-driven inflation. Trump's turnaround came shortly before a deadline he had set for Iran to reopen the Strait of Hormuz - a key shipping route for about 20% of global oil - or face widespread attacks on its civilian infrastructure.
South Africa's rand, government bonds and stocks surged on Wednesday, paring some losses amassed since the start of the Iran war after US President Donald Trump agreed to a two-week ceasefire, a move that eased fears of energy-driven inflation. Trump's turnaround came shortly before a deadline he had set for Iran to reopen the Strait of Hormuz - a key shipping route for about 20% of global oil - or face widespread attacks on its civilian infrastructure.
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