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South African rand firms on softer oil; coalition talks in focus
JOHANNESBURG: The South African rand strengthened in early trade on Monday as softer oil prices helped ease inflation concerns, while investors assessed the outcome of local municipal elections and coalition talks. At 0642 GMT, the rand traded at 16.4875 against the dollar , up about 0.4% from its previous close. Oil prices steadied on Monday after US President Donald Trump suggested new attacks on Iran were unlikely, but supply concerns lingered as vessels near the Strait of Hormuz came under attack. As a net importer of fuel, South Africa is highly exposed to global oil price movement...
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