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Rand breaches R17/$ amid second wave fears and Trump's anti-China comments

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The rand lost more than a percent on Wednesday.
The rand lost more than a percent on Wednesday.

The rand breached the R17/$ mark on Wednesday, this amid growing tensions between the US and China following President Donald Trump's latest remarks.

The local unit started the day at R16.80 to the greenback, but weakened by more than a percent to trade by R17.06/$ by noon. 

This has been the fourth day of consecutive declines after fears of a second wave of the Covid-19 pandemic striking Europe, but the weakening of the rand has been intensified by Trump's comments on China.

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