South African rand sharply pares losses as US delays Mexico tariffs

NEW YORK, Feb 3 (Reuters) - The South African rand ZAR= sharply pared losses against the U.S. dollar on Monday after Mexico's president said the announced U.S. tariffs on Mexico were delayed by a month.

The rand, down more than 2% at its session low, rebounded to trade 0.3% lower on the day at 18.70 per dollar by 1540 GMT.

Financial markets globally gyrated in response to the 25% tariffs on U.S. imports from Mexico and Canada that the White House announced over the weekend. Trump had said the tariffs would be implemented beginning on Tuesday.