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US stocks end higher, oil shares boosted by hurricane

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New York - US stocks rose on Friday, with petroleum-linked shares lifted by energy outages related to Hurricane Harvey as Federal Reserve Chair Janet Yellen steered clear of monetary policy during her much anticipated address.

The dollar fell sharply against the euro after Yellen, appearing at an annual summit of central bankers in Jackson Hole, Wyoming, avoided monetary policy in remarks that defended tougher regulations on banks.

That absence raised additional doubts on whether the Fed will go ahead with a third interest rate increase in 2017 after two earlier hikes. A weak dollar is considered mostly positive for US stocks because it boosts profits for multinationals and lowers the cost of US exports.

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ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
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