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Rand falls as US Fed raises rate

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Cape Town/Washington – The rand fell over 2% on Thursday morning as  the dollar was the chief beneficiary of the Federal Reserve’s first and only interest-rate hike of 2016, rallying to a 10-month high against the yen after officials signalled a steeper path for borrowing costs.

Asian stocks outside Japan also slipped with bonds. The greenback extended its advance against major and emerging-market peers, except for Australia’s dollar, which rose after stronger-than-expected job gains.

Japanese shares rose as the yen fell, while equities in Australia, China and Singapore slid and crude oil held losses. Government debt tracked a rout in Treasuries. The Korean won sank as much as 1.1%, even as the central bank held rates, and China’s yuan fell the most in a month.

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ZAR/USD
15.20
(-0.25)
ZAR/GBP
20.40
(-0.01)
ZAR/EUR
18.42
(-0.06)
ZAR/AUD
11.29
(-0.13)
ZAR/JPY
0.15
(+0.06)
Gold
1835.48
(-0.24)
Silver
24.14
(+0.55)
Platinum
1061.00
(+3.78)
Brent Crude
48.78
(+0.95)
Palladium
2336.01
(+1.71)
All Share
59419.37
(+0.80)
Top 40
54500.04
(+0.61)
Financial 15
11646.83
(+2.17)
Industrial 25
79758.36
(+0.10)
Resource 10
57015.33
(+0.70)
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