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South African Assets Trim Losses On Fresh Election Projection

ZAR
EM BulletHomepagemarkets-real-timeBulletEmerging Market NewsPolitical Market News

USD/ZAR has now cut the bulk of earlier gains and last trades at 18.6004 (vs. earlier high of 18.7639), seemingly in reaction to a fresh projection from eNCA, who said that the ANC could garner around 45% of the vote. This is higher than the 42% predicted by the CSIR this morning and implies that the ANC might be able to form a coalition with smaller parties. SAGBs have moved away from worst levels.

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USD/ZAR has now cut the bulk of earlier gains and last trades at 18.6004 (vs. earlier high of 18.7639), seemingly in reaction to a fresh projection from eNCA, who said that the ANC could garner around 45% of the vote. This is higher than the 42% predicted by the CSIR this morning and implies that the ANC might be able to form a coalition with smaller parties. SAGBs have moved away from worst levels.