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Rand Marginally Firmer, Local Markets Closed

ZAR

USD/ZAR has trimmed its earlier gains and last deals at 18.7288, a touch lower on the day. Bears continue to look for a move through Aug 24 low of 18.3805, while bulls eye resistance from 19.3301, the 76.4% retracement of the Jun 1 - Jul 27 sell-off.

  • The suspension of loadshedding did not last too long as unexpected failures of generation units forced Eskom to implement Stage 3 power cuts until further notice.
  • Liquidity is sapped by a public holiday in South Africa, with its financial markets shut as a result. Local players will return to desks tomorrow morning.

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