The rand fell to its weakest level against the dollar in about six weeks breaching the R14 mark, as it was caught up in the Turkish lira’s woes. The slump in the lira to record lows came amid the diplomatic spat between Turkey and the US over the detention of an American pastor, raising concerns that the US could impose sanctions on Turkey, whose economy is already reeling from hyperinflation. Joining CNBC Africa for more is Tim Nhamo, Head of Trading, Ironhead Trading.
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