Kwacha Poised For Further Gains

After nearly five months of trading sideways, the Zambian kwacha has broken to the upside to resume its appreciatory trend. Trading as high as ZMK4,420/US$ at one point on January 15, the unit has firmed 4.8% since the start of the new year, in line with the leap in three-month copper prices since the end of December by 9.4%. Copper prices have retraced slightly since their January 7 high, but remain well entrenched in an uptrend

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