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Rand Trades Flat Despite Uptick In Precious Metals

ZAR

Spot USD/ZAR operates at 18.6672, little changed on the day, with local headline flow providing little of real note. Technically, a break above Dec 11 high of 19.1386 would suggest that bulls are having the upper hand. Bears look for a move through Dec 15 low of 18.1092.

  • The BBG Commodity Index has added 0.4%, with precious metals up 0.3%. SAGB yields are slightly lower across the curve, with South Africa's 10-year breakeven inflation rate dipping to 6.33%.
  • The greenback trades on a slightly firmer footing ahead of the release of US CPI data Thursday and PPI data Friday.

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