The rand held steady below R18 to the dollar on Friday, strengthening to its best level in a year after a combination of positive US economic indicators this week eased investors’ fears about its economy slipping into a recession.

The local currency firmed to an intraday best of R17.8513/ $ — the strongest level since August last year, and stretching its gains to an eighth straight day — its longest winning streak since December 2012, when it went on a 12-day tear...

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