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South Africa's rand rises to 2-week high as U.S. rate hike bets pushed back

South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko (Reuters)

JOHANNESBURG (Reuters) - South Africa's rand gained more than one percent against the dollar on Wednesday to a two-week high of 13.3600 as the greenback slipped, with investors pushing back bets of a 2015 rate hike by the Federal Reserve. The U.S.'s trade deficit widened by its most in five months in August, reinforcing expectations that the Fed would delay hiking rates for the first time since 2006 until next year.