South Africa's rand slipped again on Tuesday as weak economic data from China contributed to the risk-off sentiment.
At 0915 GMT, the rand traded at 18.8000 against the dollar , down around 0.5% from its previous close. The currency has lost more than 5% against the greenback this month."Granted, the rand is one of the worst emerging-market performers, but much of this can be attributed to the fact that it is among the most liquid emerging-market currencies and thus when global sentiment turns, it is one of the first to feel the pressure," said Rand Merchant Bank analysts in a research note.
With little local data and a public holiday on Wednesday, traders will turn their attention to Chinese and U.S. inflation data due later this week.
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