Local focus remains squarely on Thursday’s interest-rate decision and Moody’s credit-ratings announcement on Friday
The rand was slightly weaker against major global currencies on Wednesday, but had given up the mantle of most volatile emerging-market currency to the Turkish lira.
The lira had strengthened 5% against the dollar at one point on Tuesday after Turkey’s central bank raised its overnight lending rate to 380%, and the rand was currently an afterthought for the market, said Standard Bank currency trader Warrick Butler.
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