With data out of the US and the MPC of South Africas' meeting tomorrow, we have seen markets trading in a lacklustre manner. The Rand has traded in an 8-cent range for the day with little to no direction before tomorrow. The Rand is currently trading at R 17.20 and looking to stay there for the evening session. The prediction for tomorrow is split right down the middle in the market, with some market players calling a 25 basis point hike while others are sticking to the 50 basis point hike. We expect the tone of the Governor's speech to be important in the immediate momentum of the Rand following the announcement. We have seen the US dollar losing some ground but staying in a tight range before the GDP number tomorrow.
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