South African rand falls more than 1% as Trump vows more strikes on Iran

The South African rand fell more than 1% in early trade on Thursday, after US President Donald Trump vowed more aggressive strikes on Iran, spooking investors who had been betting on a fast resolution to the war. At 0635 GMT, the rand traded at 17.0250 against the dollar, 1.3% weaker than its previous close. In a prime-time address to the nation late on Wednesday, Trump said the United States would carry out aggressive strikes on Iran over the next two to three weeks and was nearing "completion of its main strategic objectives" in the conflict.