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Up 0.91% against the USD

RAND

Rand extends gains and is the best performer in EM versus the Greenback, up 0.91%.

  • The pair unwound some of yesterday's rally despite the large contraction in the SA GDP.
  • Better USD selling this morning is leading price action, with the dollar in red territory versus all majors, besides JPY and KRW.
  • Initial support moves up to 16.6944. And a clear break through the latter would open towards this week's low at 16.5810 .

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