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South African rand edges lower as emerging markets wobble

South African rand edges lower as emerging markets wobble

JOHANNESBURG:  South Africa’s rand weakened in early trade on Thursday as emerging markets gave back recent gains after U.S. President Donald Trump cast doubt on the future of the North American Free Trade Agreement.

At 0624 GMT, the rand traded at 13.1700 to the dollar, 0.13 percent weaker than its overnight close in New York close. Headline consumer inflation slowed to its lowest since September 2015, falling to 4.6 percent year-on-year in July. Government bonds gained, and the yield for the benchmark bond due in 2026 fell 5 basis points to 8.580 percent.