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USDZAR trades at 1 week high

RAND
A miss for SA PPIs, but limited impact in the Rand.
  • The currency is taking its cue from the risk off tone,
    on covid contagion concerns.
  • RAND leads EMFX weakness against the dollar.
  • USDZAR is now above last Friday's high, and further
    upside momentum would see a test to 16.8864 (14/07 high).
  • Next stop sees Monthly Budget Balance due at 13.00BST

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