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Rand Ticks Lower Amid Limited Headline Flow


USD/ZAR sticks to a tight range today, edging higher on the back of wider greenback strength. The rate last deals at 18.7316, almost 500 pips higher on the session. On the topside, the focus falls on 19.3301, the 76.4% retracement of the Jun 1 - Jul 27 downleg. Bears eye Aug 2 low of 18.2582 for initial support.

  • SAGB yields have trimmed earlier gains, but remain higher on the day. South Africa's 10-year breakeven inflation rate sits at 6.62%.
  • The composite BBG Commodity Index is little changed at typing, while the precious metals subindex operates ~0.3% lower.
  • There has been little in the way of market-moving headlines with comments from local officials trickling through from the SARB's Biennial Conference.

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