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South African rand extends losses before local economic releases
JOHANNESBURG: The South African rand extended the previous session’s losses in early trade on Tuesday as higher oil prices weighed on sentiment, while investors waited for domestic economic data for clues on the health of Africa’s largest economy. At 0625 GMT the rand traded at 16.43 against the dollar , about 0.1% softer than its previous close. The US dollar was steady against a basket of currencies, while oil prices rose for a second successive session amid lingering concern over Middle East supply disruption. The South African Reserve Bank is expected to release its quarterly bull...
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