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Nico Kelder reports that this was mainly due to the gold price reacting negatively to the strong dollar.
Nico Kelder, economist at the Efficient group wonders when the local bull-run loose steam, and how will the Thursday MPC decision on the interest rates influence the markets?
The rand was confined to a tight band in quiet trade yesterday, but there was scope for the unit to advance to R6,40 to the dollar in coming sessions on diminishing prospects of a rate cut this week.
The UK market advanced through the early part of last week amid optimism over earnings and on expectations of an earlier than expected peak in the interest rate cycle.
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