Rand dips after hitting five-month high against euro

Markets are also awaiting the US Federal Reserve’s interest-rate decision amid speculation that the Fed may cut by at least 25 basis points at its meeting next week. 

At 10.05am, the rand had weakened 0.32% to R13.9290/$, 0.24% to R15.5048/€ and 0.28% to R17.3838/£. Earlier in the day the local currency had reached R15.4241/€, its best level in five months. The euro was flat at $1,1131.

Gold was flat at $1,425.82/oz while platinum had gained 0.45% to $880,88. Brent crude was 0.62% higher at $63.45 a barrel. 

Locally, Stats SA is scheduled to release producer price index figures for June later in the day. 

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