Rand craters on dismal GDP report

USDZAR soars by as much as 1.6% on Tuesday despite good moods on emerging markets as the GDP report for South Africa disappointed markets. The first quarter report showed a 3.2% contraction and weakness was present across all major sectors of the economy. This is the third contraction in the past 5 quarters. Traders should pay attention to 14.80 zone that acts as a resistance.  

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