The South African Rand strengthened against the U.S. dollar in early New York deals on Wednesday, as dovish comments from the Fed Chair Janet Yellen bolstered the appeal of emerging market assets.
The rand climbed to 14.82 against the greenback, its strongest since December 2015. If the rand rises further, 13.00 is possibly seen as its next resistance level. At yesterday’s close, the pair was worth 15.14.
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