# The South African rand weakened on Monday, pressured by a firmer US dollar and a jump in oil prices, as escalating tensions between the United States and Iran weighed on global market sentiment. At midday the rand traded at 16-rand-69-cents against the dollar, down 0.5-percent from its previous close. The US dollar edged higher against a basket of currencies, while oil jumped over 3-percent to more than 110-dollar a barrel. The rand has been at the mercy of global market sentiment since the US and Israel launched their war on Iran and Tehran retaliated.
South African rand weakens as firmer dollar, oil jump weigh on sentiment