The South African rand hit a three-month record showing major strength.
The rand gained strongly on Thursday , touching its highest in more than three months; however, it’s not going to be easy to keep it up.
He said that the inflation figures from the Fed were like ‘water on parched earth’ as markets have been so devoid of good news on the inflation front that this was received with great excitement. Reuters reported that the rand’s gains came despite local mining output declining by 0.8% in May following a revised rise of 3.2% in April.
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