Rand slammed by perfect storm of market risks; Gold steady

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It has been a painful trading week for the South African Rand which is currently on track to securing the title as worst performing emerging market currency since Monday, after suffering weakness by roughly 2.63%.

The USDZAR touched its highest level since October 2018 earlier this morning as the perfect storm of market risks rapidly eroded appetite for the South African Rand. One thing is for certain, the Rand is clearly unamused by headlines that David Mabuza is in the running to become re-appointed as Deputy President and this continues to reflected in the currency’s valuation. When… Read More:

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