E Due to heightened tensions in the Middle East and fewer bets that the Federal Reserve won't cut interest rates anytime soon. However, The South African rand extended its losses early on Tuesday.

At 0754 GMT, the rand traded at 19.0975 against the dollar, 0.59% less than its previous close. The markets cut back on the bets of a Fed interest rate cut in July, with the likelihood that the first cut would only take place in September due to the recent round of American economic data.