South African rand edges up ahead of mining data
The South African rand edged up in early trade as investors awaited domestic mining production data. Markets are also looking ahead to US inflation figures for signals on the Federal Reserve rate trajectory.
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The South Africa rand edged up 0.2% to trade at 16.5150 against the USD/ZAR during Tuesday morning trade. The currency gained ground as markets awaited domestic mining output figures and United States inflation metrics. Global monetary policy and domestic economic pressures continue to dictate currency valuations.
