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MARKET WRAP: Rand weakens for the ninth straight day

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Local currency continues to bleed amid thin holiday market, overall risk and stronger dollar

The rand weakened for the ninth straight day on Thursday, breaching R16 against the dollar for the first time since early January to reach its worst level since mid-December.

It’s a case of a stronger dollar and a continuation of the trend in a thin holiday market in SA, said Absa head of fixed income James Turp. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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