South African Rand Edges Lower Ahead of Economic Data
The rand weakened 0.2% Monday ahead of manufacturing data. Rising oil prices and Middle East tensions weighed on the currency as bond yields rose to 8.45%.
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South Africa's rand fell 0.2% to 16.2450 against the dollar on Monday. The USD/ZAR pair weakened ahead of May manufacturing PMI and vehicle sales data. These indicators provide snapshots of industrial health and consumer demand in Africa's most industrialized economy.
