South African rand weakens as markets await Ramaphosa speech and economic data
The South African rand weakened on Thursday as investors awaited President Cyril Ramaphosa's annual address. Markets are also monitoring new economic data.
Insights:
The South African rand weakened in early trade on Thursday as investors awaited President Cyril Ramaphosa's State of the Nation address and the release of December mining sector and manufacturing sector data. At 0717 GMT, the currency was trading at 15.8950 against the dollar, down about 0.2% from the prior close. This modest move in the currency market reflects the anticipation of the evening's political developments and the upcoming industrial figures, which are expected to clarify the near-term economic and political outlook for South Africa 
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