South Africa's rand staged a recovery on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump's policies could mean for trade relations, while U.S.

It took less than a week for one of Citigroup Inc.’s recommended Trump trades to sink under water. A day after the US presidential election, the lender recommended buying South Africa’s rand and selling Mexico’s peso.

The South African rand saw big swings last week, driven by Donald Trump’s re-election and eased tensions in the Middle East and Ukraine, but closed nearly unchanged at R17.52 to the dollar.

Currency fluctuations can be sudden and unpredictable, and that’s particularly true for emerging market currencies such as the rand

South Africa's rand hit a three-month low on Tuesday, hurt by a stronger dollar and weaker gold prices, as markets grappled with what another Donald Trump presidency will mean for U.S. policy and trade relations.