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Rand makes strong gains following US mid-term elections

eNCA logo eNCA 2018-11-08 donald2
© Thomas White

JOHANNESBURG - The rand is holding onto gains against the dollar following the results of the US mid-term elections.

The JSE also cheered the news that the Democrats wrested control of the House of Representatives from the Republicans.

Investors see the result as one that might curtail President Trump's trade and tariffs agenda.

Read: Trump clashes with 'rude, terrible' CNN reporter 

The rand went below the R14 mark against the US dollar for the first time since August.

Analysts say the stronger rand, if sustained, may allow a petrol price decrease.

The rand is now hovering between R13.90 and R13.96 against the dollar.

Read next: Trump Is a Really Happy Loser

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