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The rand is trading weaker in line with other emerging market currencies as the greenback rebounded.
Comments from the U.S. Federal Reserve on global growth and on-going trade tensions also dimmed investor appetite for riskier assets.
The local currency may be at risk of a downgrade in a sovereign rating review by Standard and Poor’s later this week, due to concerns about the delay of fiscal consolidation and a lack of clarity around the expropriation of land without compensation.
It’s currently trading at R14,08 against the dollar.
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