Scope for rand to break below R13/$, but the overshoot won't last

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The rand is at its best level in a year at R13.50 to the greenback, but do not rule out a correction. (Getty)
The rand is at its best level in a year at R13.50 to the greenback, but do not rule out a correction. (Getty)

The rand traded at its best level in 26 months earlier this week, briefly breaking to below R13.50/$ - a long way from a record low of R19/$ in April last year.

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Rand - Dollar
14.27
+0.3%
Rand - Pound
19.88
+0.2%
Rand - Euro
16.92
+0.4%
Rand - Aus dollar
10.58
-0.0%
Rand - Yen
0.13
+0.4%
Gold
1,813.83
+0.2%
Silver
25.68
+0.6%
Palladium
2,669.71
+0.7%
Platinum
1,048.50
-0.4%
Brent Crude
72.41
-0.7%
Top 40
62,780
+0.4%
All Share
68,943
+0.4%
Resource 10
71,279
+0.1%
Industrial 25
86,791
+0.7%
Financial 15
13,108
-0.2%
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