Greenback buckles
The rand firmed yesterday along with other emerging currencies as the dollar took a hit from geopolitical fears following North Korea's missile test and by a batch of weak data.
The greenback was pinned back after North Korea said it had successfully tested a new mid-to-long range missile able to carry a large-scale nuclear warhead.
The news triggered an uptick in demand for emerging currencies and safe-haven securities like gold and other metals.
The rand was also propelled by weaker-than-anticipated US inflation and retails sales data deep into Friday's local trade session, with demand for the unit spilling over into Monday trade.
NAMPA/REUTERS
The greenback was pinned back after North Korea said it had successfully tested a new mid-to-long range missile able to carry a large-scale nuclear warhead.
The news triggered an uptick in demand for emerging currencies and safe-haven securities like gold and other metals.
The rand was also propelled by weaker-than-anticipated US inflation and retails sales data deep into Friday's local trade session, with demand for the unit spilling over into Monday trade.
NAMPA/REUTERS
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