The rand is scrambling but keeps slipping as it gets caught up in major global conflicts. China has retaliated with a currency move in the trade wars, Boris Johnson is set to go ahead with no-deal Brexit and U.S markets are still left reeling from the Fed rate cut. What does all this mean for the currency market? Joining me in studio for more is Andre Cilliers, Director & Currency/Markets Expert, TreasuryONE.
Facebook Inc. unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. dollar. Called Libra, the new currency will launch as soon as next year and be what's known as a stablecoin -- a digital currency that's supported by established government-backed currencies and securities.
The Treasury Department again refrained from labeling China a currency manipulator, while it expanded the number of countries it scrutinizes for currency manipulation to 21 from 12; Ireland, Italy, Vietnam, Singapore and Malaysia joined the watch list. Greg Sullivan reports on "Bloomberg Daybreak: Australia."
The Economic Intelligence Unit says businesses in some of sub-Saharan Africa’s largest economies have been forced to close or reduce production over access to hard currency or working capital to keep their import-dependent operations afloat. Benedict Craven, Country Risk Manager at Economic Intelligence Unit joins CNBC Africa for more.