The South African rand slumped to a 10-day low of 7.5750 against the US dollar during early trading on Monday. On the downside, 7.617 is seen as the next target level for the South African currency. At last week's close, the dollar-rand pair was quoted at 7.4231.

Looking ahead, South Africa's retail sales report for July is due at 5:30 am ET.

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