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Rand leads emerging-market peers after bump by Moody’s bump

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The reduced threat of SA falling off global bond indices is boosting the rand and local bonds

The rand was firmer on Monday afternoon, and easily the best performing emerging-market currency.

At 2pm the rand had strengthened 1.11% to R14.1815/$, 1.2% to R15.9265/€ and 0.67% to R18.5987/£. The euro was flat at $1.123.Global sentiment was boosted on Monday by positive Chinese data. Erdoğan is seen to have sought to intervene in that country's monetary policy. Analysts said the electoral result may prompt further populist policies.

 

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