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Rand trades on the back foot overnight

The rand oscillated as markets remain cautious before this week’s FOMC, ECB and BoJ decisions and the local CPI print, according to Oxford Economics Africa. Photo: File

The rand oscillated as markets remain cautious before this week’s FOMC, ECB and BoJ decisions and the local CPI print, according to Oxford Economics Africa. Photo: File

Published Dec 14, 2021

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The rand oscillated as markets remain cautious before this week’s FOMC, ECB and BoJ decisions and the local CPI print, according to Oxford Economics Africa.

At the close of local trade, the rand quoted 0.06 percent weaker at R15.99/$, after trading in range of R15.87/$ to R16.06/$. The rand traded on the back foot overnight. The expected range of the rand against the dollar today is R16.00/$ to R16.10/$.

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South African bourse

The JSE All Share (-0.36 percent) ended lower yesterday, with telecommunication (+0.63 percent) the only sub-index posting gains. In the overall emerging market sphere, the MSCI Emerging Market Index (-0.64 percent) traded lower.

Brent crude oil

Crude prices were weighed down yesterday after new concerns surfaced about the Omicron variant’s impact on global demand and the possible ineffectiveness of vaccines. At the close of local trade, the Brent oil price quoted 2.08 percent lower, at $74.5pb. Crude prices traded weaker during Asian trade this morning.

BUSINESS REPORT ONLINE

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