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The Rand continues defensive following.........>

RAND
RAND: The Rand continues defensive following yesterday's soft GDP readings and
recession fears. The stronger dollar theme improves USDZAR to Zar15.407 and seen
approaching resistance from the Aug13 ytd high at Zar15.5517, a break here can
look to challenge the key Zar16.000 area (Zar15.9823 - May19 2016 high). EM's
expected to struggle in the short-term amid the threat of an escalating trade
war and firmer USD.

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