One of yesterday’s big losers was the South African rand, which fell against all of its major currency pairs, including a drop of over 1.5% against sterling. The future looks bleak for the South African economy as the country is still facing public unrest and a water shortage in its biggest city, Johannesburg.
The Polish zloty had contrasting fortunes yesterday as it gained on most currencies. By 5pm it had gained 0.4% on the euro, which was the best performance for an emerging-market currency for the day.
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