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Market News 22/10/2014

Currencies
South Africa's rand clawed to its firmest level in 25 days against the dollar yesterday as investors took some
comfort from stronger than forecasted China's GDP data. The rand strengthened for a 3rd straight day to
its firmest level since mid-September, 0.45% firmer to 10.9725 per dollar near the end of the session. All eyes
are on Finance minister Nhlanhla Nene, who delivers his first budget speech today with market-watchers
expecting him to reveal a wider budget deficit and lower GDP growth forecasts than expected in
February.

Currencies

South Africa's rand clawed to its firmest level in 25 days against the dollar yesterday as investors took some comfort from stronger than forecasted China's GDP data. The rand strengthened for a 3rd straight day to its firmest level since mid-September, 0.45% firmer to 10.9725 per dollar near the end of the session. All eyes are on Finance minister Nhlanhla Nene, who delivers his first budget speech today with market-watchers expecting him to reveal a wider budget deficit and lower GDP growth forecasts than expected in February.  

 

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