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Markets

South Africa's rand jumps to two-week high vs dollar

Published Updated

rand--JOHANNESBURG: The rand gained 1.6 percent against the dollar on Thursday after a highly anticipated European Central Bank policy meeting failed to deliver enough details on plans to end the euro crisis, pushing investors who had shorted the rand back to the unit.

The rand broke 8.32 resistance, moving to 8.2805 by 1440 GMT, its firmest level in nearly two weeks.

Copyright Reuters, 2012

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