South Africa's rand gained against a weaker dollar on Wednesday, as investors awaited President Cyril Ramaphosa's national address on Thursday and closely watched developments between the U.S. and China in their dispute over tariffs.

The rand and the JSE took a hit after Trump accused South Africa of confiscating land with the Expropriation Act.

President Cyril Ramaphosa defended South Africa's land policy on Monday after Donald Trump's threat to cut off funding because of what he said were land confiscations. Trump said the previous day, without citing evidence,

The USD/ZAR exchange rate rose for four consecutive days as investors reacted to the ongoing tensions between the United States and South Africa. It rallied to a high of 19.05 on Monday, up by 11.5% from its lowest level in October last year.

South Africa's rand weakened on Friday against a buoyant dollar as markets awaited U.S. President Donald Trump's tariff deadline for Canada and Mexico.