JOHANNESBURG - The rand firmed on Wednesday as an unexpected rise in economic growth in major trading partner China boosted demand for emerging market currencies worldwide.
The rand did not react sharply to local data releases for consumer inflation and retail sales, which pointed to a slight pickup in price pressures against a backdrop of sluggish economic growth. Johannesburg-listed stocks closed broadly flat, after spending most of the session in the red as commodity stocks were dragged lower by gold prices holding near 2019 lows.
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