The rand regained some lost ground on Tuesday afternoon, appearing to consolidate below R14 to the dollar in what analysts believe might be the start of a marginal rebound from oversold levels.TreasuryOne trader Andre Botha said the rand appeared to be stretched at present levels. The rand has lost 10.6% in 2018, its worst performance since 2015 when it slumped 33.8%. It recovered 11.19% in 2016, having reached its weakest level on record, of R17.7893 to the dollar, on January 15. It lost 9.87% in 2017.The rand, together with other emerging-market currencies, has been hammered in 2018 on concerns of an escalating global trade war, a sell-off in emerging markets, portfolio outflows and perceived local political and economic risk issues."We believe the rand is caught up in the international noise and should start to recoup some of its losses as the dust begins to settle," Botha said.The rand firmed on the day as the dollar softened slightly to the euro ahead of the release of the late...
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