Rand falls as dollar hovers near 2-week high

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On Tuesday, the dollar rose as unexpectedly strong data on US services industries and new home sales helped sooth some fears about the state of the world’s top economy.

JOHANNESBURG - The rand weakened against the dollar in early trade on Wednesday, as the greenback hovered near a two-week high buoyed by robust US economic data.

Markets were also a bit cautious over the Sino-US trade dispute and are awaiting developments in talks between the two major economies. “Markets are seeking some fresh developments in the US-China trade talks to provide solid directional guidance.”

 

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