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South Africa’s rand slides as Greek fears weigh on EM currencies
JOHANNESBURG (Reuters) – South Africa’s rand fell more than 1 percent against the dollar on Monday, tracking a downward slide in emerging markets after investors were spooked by fears that Greece could default on its debt. A rate cut in China, the world’s second largest economy, also dampened appetite for commodity currencies like the rand, analysts said. The rand hit a session low of 12.0585 to the greenback, and was trading at 12.0525 by 1518…
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