Rand Softens After South African Central Bank Rate Hike
The South African rand softened in early trade as markets digested a twenty-five basis point interest rate hike by the central bank. Growing expectations of elevated Federal Reserve rates also weighed on the risk-sensitive currency against the dollar.
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South Africa's rand softened in early trade on Friday morning as markets absorbed the central bank's 25 basis point rate hike. The currency traded 0.3% lower at 16.40 against the USD/ZAR.
