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The rand remained range bound against the dollar in late afternoon trade yesterday in a flow-driven market.
Quentin Smith at Old Mutual UK reports that investors continued to remain concerned by the lack of a resolution to the Middle East situation.
Nico Kelder, economist at the Efficient Group reports that the reason for the weaker market was the thundering currency. The rand trampled the majors and gained around 2%.
The US currency came under pressure after US markets awakened to the surprise news that the handover of power to an interim Iraqi government had been brought forward by two days.
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