November 14, 2019 / 6:59 AM / 22 days ago

South Africa's rand slips in early trade as U.S.-China deadlock report weighs

JOHANNESBURG, Nov 14 (Reuters) - South Africa’s rand inched lower early on Thursday, as a report of a deadlock in trade negotiations between China and the United States drained demand for risk currencies globally.

At 0630 GMT, the rand was 0.19% weaker at 14.9410 per dollar, compared with an overnight close of 14.9130.

Doubts whether the United States and China will be able to reach a preliminary trade deal once again resurfaced, after the Wall Street Journal reported Beijing rebuffed a farm purchase deal that looked one-sided in favour of the United States.

Bonds were flat, with the yield on the benchmark 2026 government issue at 8.455%.

Statistics South Africa will publish September mining production data at 0930 GMT, with a Reuters poll forecasting a 2.15% contraction. (Reporting by Mfuneko Toyana; Editing by Subhranshu Sahu)

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