South African Rand Weakens Ahead of Unemployment Data
The South African rand slipped Tuesday as investors awaited labor data. Analysts expect the unemployment rate to remain steady amid global economic uncertainty.
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USD/ZAR rose 0.2% to 16.48 on May 12 as South Africa prepared to release first-quarter labor market data. Traders expect the national unemployment rate to remain near its current 31.4% level. The data offers a snapshot of Africa's most industrialized economy amid global trade uncertainty.
