In the absence of any major domestic developments, the South African weakened in line with broad US dollar strength. US Treasury bonds, along with other safe-haven assets such as gold, got a temporary boost from negative headlines in Italy which were seen to raise risks in the eurozone. At the close of local trade, the rand quoted 0.1 percent weaker at R14.31/$, after trading in the range of R14.21/$ - R14.44/$. The rand traded little changed overnight. Expected range today R14.20/$ - R14.45/$.
South African bourse
The JSE All Share (-0.6 percent) ended lower yesterday dragged by losses in most sectors apart from mining (+2.15 percent). In the overall emerging market sphere, the MSCI Emerging Market Index (-1.4 percent) traded lower. In local news, mining shares were up, with the likes of Sibanye (+10.3 percent), AngloGold (+4 percent) and Gold Fields (+3.5 percent) closing in the black after gold vaulted higher.
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