South African Rand Slips on Lower Metal Prices
The South African rand weakened in early trade as declines in gold and platinum prices weighed on the currency. Investors now await the release of local producer inflation data for further economic direction.
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South Africa's rand weakened to 16.65 against the USD/ZAR during Thursday morning trade, down 0.4% from its previous close. The commodity-linked currency faced pressure from falling export prices as investors awaited crucial domestic inflation data. This follows recent monetary policy signals from the United States Federal Reserve.
