South African Rand Gains on US-Iran Peace Deal Hopes
The South African rand rose 0.4% on Thursday as investors weighed prospects for a U.S.-Iran peace deal. Markets remain cautious over unresolved shipping issues.
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South Africa's rand strengthened 0.4% to 16.3225 against the dollar in early morning trade on May 7. The rally follows reports that Iran is reviewing a peace proposal from the United States. Investors are monitoring the potential end to a conflict that has disrupted global energy shipments since February 28.
