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Initial reaction to South Africa's.....>

SOUTH AFRICA
SOUTH AFRICA: Initial reaction to South Africa's budget release is market
positive, with ZAR rallying against all others as the finance ministry look to
cut R160bln from state wages over three years and see the 2020-21 budget gap at
a multi-decade high of 6.8%.
- USD/ZAR hits a session low of 15.1219. Yesterday's low of 15.0513 provides
initial resistance ahead of 14.9422.

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