South African rand strengthens after Trump delays strikes on Iran energy sites

The South African rand strengthened on Monday after US President Donald Trump stepped back from plans to target Iran's power plants and energy infrastructure, boosting appetites for riskier assets. At 1344 GMT the rand traded at 16.82 against the dollar,up 1.1% from its previous close. Trump said on Monday that Washington and Tehran have held constructive talks and that he had backed down from targeting Iran's power network.