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Early Pressure On ZAR Assets

SOUTH AFRICA

South African assets are come under a little early pressure this morning. Having rallied through the early hours, the rand has sold off sharply over the past hour and currently trades at 15.01. SAGBs are similarly trading weaker with yields 6-7bp higher across much of the curve. Local debt rallied initially around yesterday's SARB rate decision (on hold), but quickly reversed gains.

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