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Rand falls after hawkish US Fed comments

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(iStock)
(iStock)

Seoul – The rand followed emerging-market currencies and stocks, which fell for a second day after hawkish comments from a Federal Reserve official strengthened speculation there will be a US interest-rate increase within the year.

The rand was trading 1.67% weaker at R13.59 to the dollar at 06:45, while the pound was down 0.73% (R17.72) and the euro was down 1.03% (R15.33).

South Korea’s won and Taiwan’s dollar led declines developing nation currencies following remarks on Sunday from Fed vice chairperson Stanley Fischer that the US economy is already close to meeting the central bank’s goals and growth will pick up.

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ZAR/USD
15.17
(-0.34)
ZAR/GBP
20.26
(-0.17)
ZAR/EUR
18.06
(-0.25)
ZAR/AUD
11.16
(-0.28)
ZAR/JPY
0.15
(-0.46)
Gold
1811.70
(+0.20)
Silver
23.35
(+0.07)
Platinum
960.00
(+0.09)
Brent Crude
48.73
(+1.57)
Palladium
2359.66
(+2.07)
All Share
57911.11
(+0.29)
Top 40
53092.13
(+0.29)
Financial 15
11579.50
(-0.53)
Industrial 25
80043.67
(+0.26)
Resource 10
52879.57
(+0.52)
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