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USDZAR fades Friday sell off

RAND

USDZAR test high of the session and back above 16.70, with local desk reporting some local demand, albeit in very thin liquidity on US "Labour Day".

  • They note on the margin more action in FX versus local rate markets.
  • USDZAR has faded some of the Friday sell off, now at 16.7313, with Friday's high situated at 16.8273.
  • Focus this week will be on the SA GDP tomorrow, Current Account (Wednesday), and Manufacturing production (Thursday)

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