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US rates threat, Gordhan woes keep rand on edge

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Cape Town – While ANC secretary general Gwede Mantashe’s address regarding Finance Minister Pravin Gordhan’s battle with the Hawks pushed the rand down 10 cents on Tuesday, it was the US rate hike threat that caused further concern over the currency.

“The rate threat is feeding into the rand mainly via the stronger dollar,” said RMB analyst John Cairns on Wednesday.

The rand was trading marginally lower at R14.46/$ at 09:00 on Wednesday.

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