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Rand near 11-month high to the pound as market eyes new UK prime minister

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Details on Eskom’s bailout will be watched by markets, while an eye is also on the UK, which is set to get a new leader soon

The rand was a little weaker against the dollar on Tuesday morning, but firmer against the pound, as markets waited to see who will be the next prime minister of the UK.

Despite this, a Johnson victory could see the pound rally a little, as markets had extensively priced in a no-deal Brexit already, Johnson said. The announcement is expected at 12.45am local time.

 

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