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Hard to pen a catalyst for....>

GLOBAL MARKET/OPINION
GLOBAL MARKET/OPINION: Hard to pen a catalyst for the latest round of risk-off
flows.... came around the same time as the morning South Korean coronavirus
toll, which didn't really present anything shocking. Nothing huge on the flow
side in Tsys. USD/ZAR had a brief look above ZAR15.50 for the first time since
Sep 2018, but that proved fleeting (budget/ratings matters remain front and
centre there after Moody's pointed to "elevated" risks to budget forecasts re:
doubts over whether trade unions will agree to cuts in the public sector wage
bill & potential SOE liabilities on Thursday).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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