Rand Weakens Ahead of Fed Decision and Iran War Updates
The rand weakened to 16.5550 against the dollar on Wednesday. Markets await the Fed rate decision while monitoring stalled peace talks in the Iran conflict.
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The USD/ZAR pair rose 0.2% to 16.5550 as the rand weakened against the United States dollar Wednesday morning. Investors are awaiting a Federal Reserve rate decision while monitoring stalled peace negotiations in the Iran conflict. Two months of Middle East warfare have pushed fuel prices higher, erasing investor expectations for near-term interest rate cuts.
