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South African Rand Holds Near Multi-Month High

The South African rand hovered near a multi-month high on Monday, supported by a subdued dollar and rising gold prices. Investors are closely watching upcoming US inflation data and potential new sanctions on Iran.

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South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration

The South Africa rand held near a multi-month high against the dollar on Monday morning, trading at 15.99 as markets weighed impending sanctions on Iran. The commodity-linked currency rose 0.2% during early trading, supported by a softer greenback and rising bullion values. The move mirrors broader emerging-market resilience as traders monitor geopolitical friction in the Middle East.
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