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USD/ZAR over 700 pips higher on the day,.......>

RAND
RAND: USD/ZAR over 700 pips higher on the day, last ~ZAR15.2560. The previously
outlined business day article re: the South African Tsy telling "government
departments to draft plans to slash their budgets for the next three years,
beginning with a 5% cut in 2020 and 6% and 7% for the years thereafter," has
been the driving factor, pushing the cross higher over the last couple of hours.
Latest leg higher came about as the headline hit BBG in last 10 minutes or so.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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