South African Backs Off vs. US Dollar

The South African rand fell against the strong US dollar today. The currency still performed relatively well due to the help of rising commodity prices.
The dollar was rising against its most-traded peer during the Monday’s session as market participants were digesting the last week’s policy announcement from the Federal Reserve. Still, the rand demonstrated fairly strong performance compared to other currencies of emerging markets, even though it was not able to gain on the dollar. The South African currency got limited support from the rally of commodities and global stocks, which showed that investors are not totally averse to risk.
USD/ZAR edged up from 13.4690 to 13.4744 as of 21:56 GMT today.

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