Rand and South African bonds gain after China promises a more flexible yuan

By bne IntelliNews June 21, 2010
The rand and South African bonds gained after China promiseda more flexible yuan rate. The rand gained over 1%, to 7.41/dollar, itsstrongest level in seven weeks, after a mid-morning high of 7.45. The yield onthe 2015 government bond fell to 7.855, the lowest level since early in May. Amore flexible yuan is expected to boost commodity prices and currencies,increasing risk appetite.
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