South African rand extends gains ahead of inflation data

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The South African rand extended gains in early trade on Wednesday, ahead of inflation data that could hint at the country's future interest rate path.

Analysts polled by Reuters predict July inflation will slow to 5.0% from 5.4% in June. The South African Reserve Bank targets a range of 3-6%.South Africa is hosting leaders from Brazil, India and China in Johannesburg for the second day of the

of emerging economies on Wednesday, where the expansion of the bloc will likely be the topic of discussion.South Africa's benchmark 2030 government bond was stronger in early deals, with the yield down 3 basis points to 10.445%.

 

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