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South African Rand Holds Steady as Traders Await Fed Minutes
The South African rand was little changed at 16.2450 per US dollar on Monday, holding its ground as currency traders wait on this week's Federal Reserve minutes for fresh clues on the US interest-rate path. A firmer dollar and hawkish signals from Fed Chair Kevin Warsh, who warned that those betting on rate cuts 'could be disappointed,' kept risk-sensitive emerging-market currencies like the rand in a holding pattern. With South Africa's data calendar light this week, the currency is largely at the mercy of global cues.
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