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             	    		<div style><span><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif"><font color="#9f7e55" style="font-size: 20pt;">What we know</font></font></span></div>
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color:#000000;padding:0px;margin: 0;line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><span style="line-height: 17pt;"><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><span style="line-height: 17pt;"><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); 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</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>




















<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><span><font style="font-size: 11pt;">




















</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">This past
week the rand traded in a narrow range of 30 cents, with a high of 18.67 and a
low of 18.37 ending the week at USD.ZAR 18.38 to the dollar, eight cents lower
than the opening rate of 18.46. We remained mostly within our projected range
for the week only breaking the 18.60 upper bound on Wednesday for a brief
period. The Dollar closed the week on a reasonably
strong footing signalling that some Rand specific strength may be responsible
for the Rand stability.&nbsp; </font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">A
functioning economy leading up to elections seems to be driving some Rand
strength aided by a rally off the back of weak jobs data and unemployment
figures out of the US as we mentioned last week. We saw a consolidation due to
the various election probabilities being mostly priced into the market with
only a few weeks to go. With voting day on the 29<sup>th</sup> of May, the
market will likely be holding its breath for results before a new trading
direction is established. </font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">The Bank of
England seem to be following suit with the US regarding interest rate cuts or
rather the lack thereof. The BoE meeting ending on Wednesday saw rates remain
unchanged at 5.25% with an optimistic outlook for cuts this summer but we would
need to see a more significant decline in inflation. On the other side of the
coin, the latest month on month GDP growth in the UK came in at 0.4% which is
higher than the forecasted 0.1%.</font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">With very
little data from the US last week the UK interest rate decision took the
spotlight. Although rates have remained unchanged, the UK seem to be faring
better that the US when it comes to battling inflation. The UK March CPI was
3.2% year-on year, down from 3.4% in February. While the Fed are forced to
continuously push out rate cuts, the Bank of England may have an opportunity to
provide consumers at least some breathing room in the near future.&nbsp;</font><span style="background-color: transparent; font-family: Calibri, Candara, Segoe, &quot;Segoe UI&quot;, Optima, Arial, sans-serif; font-size: 11pt;">The
increased likelihood of a rate cut and general positive sentiment around South
Africa has aided the Rand in gaining some ground against the Pound dipping
below the GBP.ZAR 23.00 level.</span></p>





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             	    		<div style><div componentbgcolor="#f8f4f4" componentborder="#ffffff" componentbottombordersize="4px" componentbottomborderstyle="solid" componentlineheight="17pt" componenttopbordersize="4px" componenttopborderstyle="solid" id style="background-color: rgb(248, 244, 244); outline: none;"><font color="#333333"><span style="line-height: 17pt;"><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><font style="text-align: left;"><b style><i style><font style><font style="font-size: 11pt;"></font></font></i></b></font></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 19pt; text-align: justify;"></p><div align="justify" style="text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><u style><b style><i><br></i></b></u></font></div></span></font><div align="justify" style="text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><font style><b style><i style><font style><font style><font style><font style><font style><font style><font style><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><a alt="Reuters" href="https://cure-zgpvh.maillist-manage.net/click/1493f4796a37dde8/1493f4796a37d5cc" style="text-decoration:underline;color: rgb(0, 0, 0);" target="_blank" title="Reuters" zcurl_name="l_3"><font color="#000000" style="color:#000000;">Reuters</font></a></font>&nbsp;</font><font color="#333333" style>-&nbsp;</font></font></font></font></font></font></font></font></i></b></font></font><b style="font-style: italic; text-align: left;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;">Girding Russia for war, Putin gives extra duties to two top officials</font></b></div><div align="justify" style="text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><br></font></div><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><span></span></font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><font style><font color="#000000" style="color: rgb(0, 0, 0);">&quot;</font></font>Manturov oversees the Russian defence and civilian industry, which has surprised the United States and its European allies by ramping up artillery production faster than the whole of the NATO military alliance combined despite sanctions.<font style><font color="#000000" style="color: rgb(0, 0, 0);">&quot;</font></font></font></p><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><font color="#000000" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></font><p style="margin: 0;padding: 0px;font-family:Arial, Helvetica, sans-serif; color:#000000;line-height:1.7;font-family:Arial,verdana;font-size:12px;padding:0px;"></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><style>
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</font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><font style><font color="#000000" style="color: rgb(0, 0, 0);">&quot;</font></font>The
response highlights the dominant role that companies like Nvidia Corp.,
Amazon.com Inc., and Meta Platforms Inc. are playing in the US financial
markets as they expand their sway over major swaths of the economy. That has
allowed them to generate steady profits, stoking rallies that are making
investors confident that they will continue to be a source of solid gains.<font style><font color="#000000" style="color: rgb(0, 0, 0);">&quot;&nbsp;</font></font></font></p>





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             	    		<div componentbgcolor="#f8f4f4" componentborder="#ffffff" componentbottombordersize="4px" componentbottomborderstyle="solid" componentlineheight="17pt" componenttopbordersize="4px" componenttopborderstyle="solid" style="background-color: rgb(248, 244, 244);"><span style="line-height: 17pt;"><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style><font color="#333333" style="font-size: 11pt;"><b style><i><br></i></b></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><b style><i style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><font style><span style="text-align: left;"><font style><font color="#000000" style="font-size: 11pt; color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><a alt="CNBC" href="https://cure-zgpvh.maillist-manage.net/click/1493f4796a37dde8/1493f4796a37d5d0" style="text-decoration:underline;color: rgb(0, 0, 0);" target="_blank" title="CNBC" zcurl_name="l_5"><font color="#000000" style="color:#000000;">CNBC</font></a></font>&nbsp;</font><span style="font-size: 11pt;">-</span><font color="#333333" style><span style="font-size: 11pt;">&nbsp;</span><span style="font-size: 11pt;"><b><span></span></b></span></font></font></span></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></font></i></b></font><span style="font-size: 11pt; font-family: Calibri, Candara, Segoe, &quot;Segoe UI&quot;, Optima, Arial, sans-serif; text-align: left; font-style: italic;"><b>Britain faces its 'most dangerous&rsquo; years in history, PM Rishi Sunak to warn in pre-election bid</b></span></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><br></font></p></span><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"><font color="#333333" style><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"></font></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><span></span></font></font></font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"><font color="#000000" style="color: rgb(0, 0, 0);"></font></font></font></font></p><span><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font style><font style></font></font></p></span><span><font style><font style>&quot;</font></font></span></font>In
a speech to be delivered in central London, Sunak will say that the years ahead
will be among the most challenging in Britain&rsquo;s history, with threats such as
war, migration and technology all set to intensify.</font><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><font color="#333333" style><span><font style><font style="font-size: 11pt;">&quot;</font></font></span><p align="justify" style="line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0px;margin: 0;font-size: 11pt; line-height: 17pt; text-align: justify;"><font color="#000000" style="color: rgb(0, 0, 0);"><br></font></p></font></font><font style><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p></font>


<p align="justify" style="line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0px;margin: 0;font-size: 11pt; line-height: 17pt; text-align: justify;"><font color="#333333" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style><font style></font></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;text-align: justify;"></p><font color="#333333" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif">


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			</td></tr>
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</td></tr>
<tr><td class="txtsize" id="elm_1713176121359" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div class="zpelement-wrapper divider" id="elm_1713176121359" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:5px 7px 5px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1713176289519" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div class="zpelement-wrapper divider" id="elm_1713176289519" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:5px 7px 5px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1518090879821" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

          <div class="zpelement-wrapper" id="elm_1518090879821" style=";word-wrap:break-word;overflow:hidden;padding-right:0px;background-color:;">
	    	<table border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" width="100%">
	  	
            <tbody><tr><td class="paddingcomp" style="border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;padding:7px 15px;font-size:12pt;font-family:Arial,Helvetica;line-height:19pt;border-top:0px none ;   border-bottom:0px none ;padding-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
             	    		<div style><span><font color="#9f7e55" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size:20pt;">What we think</font></span></div>
			</td></tr>
		</tbody></table>
       	  </div>
</td></tr>
<tr><td class="txtsize" id="elm_1518090929738" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

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<p align="justify" style="line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0px;margin: 0;font-size: 12pt; text-align: justify; line-height: 17pt;"><font color="#333333" style="line-height: 17pt;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="line-height: 17pt; font-size: 11pt;"></font></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0px;margin: 0;font-size: 12pt; text-align: justify; line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana; color:#000000;padding:0px;margin: 0;font-size: 12pt; text-align: justify; line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><p align="justify" style="line-height:1.7;font-family:Arial,verdana; 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color:#000000;padding:0px;margin: 0;text-align: justify; line-height: 17pt;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><font style="line-height: 17pt;"><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); line-height: 17pt; font-size: 11pt;"></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><span><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><p align="justify" style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: justify;"><font face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"></font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font style><font color="#fe0713" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="font-size: 11pt;"></font></font></p><span><font style="font-size: 11pt;">



















</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>




















<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><font style="font-size: 11pt;">




















</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>




















<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>




















<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><span><font style="font-size: 11pt;">




















</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p><span><font style="font-size: 11pt;">




















</font><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">Last week we said
that,&nbsp;<i style>&ldquo;Non-Farm Payrolls and the Unemployment Rate both disappointed, pushing
the Dollar Index to its weakest level in almost a month&hellip; we&rsquo;ve been calling for
soft USD data for some time, while being proven wrong&hellip; We do now need to see
more weak US data in the coming weeks and months, which could then potentially
allow the Rand to eye the big 18.00 figure.&rdquo;</i></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><i>&nbsp;</i></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">After weak
employment data two weeks ago and a quiet week last week, the significant news
out of the US this week consists of PPI figures on Tuesday afternoon followed
by the Fed chair, Jerome Powell, addressing the press later on Tuesday. A poor
PPI release on top of a fairly reserved forecast could aid the ZAR in its push
stronger considering last week&rsquo;s underwhelming employment release. </font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">The way
forward for the Fed becomes more challenging as they continue to extend rate
cuts and the highly anticipated &ldquo;soft landing&rdquo; for the US economy seems to be
slipping if the Fed is unable to get inflation under control. </font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">In the lead
up to elections here in South Africa, a lack of any significant news leaves
very little to move the markets in either direction, and we find ourselves in a
stalemate when considering how markets may move this week. </font></p><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"><br></font></p>

<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;">Our range
for the week: 18.30 &ndash; 18.60.</font></p>





</span><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>





</span><p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>





<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>





<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>





<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"></font></p>





<p style="font-family:Arial,verdana;font-size:12px; color:#000000;padding:0px;margin: 0;line-height: 17pt; text-align: left;"><font color="#000000" face="Calibri, Candara, Segoe, Segoe UI, Optima, Arial, sans-serif" style="color: rgb(0, 0, 0); font-size: 11pt;"> </font></p>





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			</td></tr>
		</tbody></table>
       	  </div>
</td></tr>
<tr><td """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" class="txtsize" id="elm_1518091109020" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" class="zpelement-wrapper divider" id="elm_1518091109020" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:10px 7px 10px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#cccccc" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#cccccc" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" border-size="1px" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-style: solid none none; border-color: rgb(204, 204, 204); font-size: 0px; margin: 0px; padding: 0px; width: 100%; border-top-width: 1px;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1700583776799" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div class="zpelement-wrapper divider" id="elm_1700583776799" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:10px 7px 10px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1700585145365" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

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	    <tbody><tr>
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		        <table align="left" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;text-align:left;width:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            		<tbody><tr><td class="paddingcomp" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
			<a href="https://cure-zgpvh.maillist-manage.net/click/1493f4796a37dde8/1493f4796a37d5d2" style="text-decoration:underline;border:0px;" target="_blank" zcurl_name="l_6">
			<img align="left" alt="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700585888689_frame_68_(2).png" class="zpImage" height="auto" hspace="0" size="F" src="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700585888689_frame_68_(2).png" style="width:670px;height:autopx;max-width:670px !important;border:0px;text-align:left;" vspace="0" width="670">
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            </td></tr></tbody></table>
</td></tr>
<tr><td class="txtsize" id="elm_1700583788713" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div class="zpelement-wrapper divider" id="elm_1700583788713" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:10px 7px 10px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1700585430745" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

	    	<table bgcolor="#47c9e5" border="0" cellpadding="0" cellspacing="0" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px;width:100%;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;background-color:#47c9e5;">
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		        <table align="left" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;text-align:left;width:100%;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
            		<tbody><tr><td class="paddingcomp" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px 15px;text-align:center;padding-top:7px;padding-bottom:7px;padding-right:15px;padding-left:15px;">
			<a href="https://cure-zgpvh.maillist-manage.net/click/1493f4796a37dde8/1493f4796a37d5d4" style="text-decoration:underline;border:0px;" target="_blank" zcurl_name="l_7">
			<img align="left" alt="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700585902639_frame_69_(2).png" class="zpImage" height="auto" hspace="0" size="F" src="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700585902639_frame_69_(2).png" style="width:670px;height:autopx;max-width:670px !important;border:0px;text-align:left;" vspace="0" width="670">
			</a>
			</td></tr>
			</tbody></table>
		</div>
            </div>
            </td></tr></tbody></table>
</td></tr>
<tr><td class="txtsize" id="elm_1700137520911" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

		
			 <div class="zpelement-wrapper divider" id="elm_1700137520911" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:10px 7px 10px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
			</td></tr></tbody></table>
			</div>
</td></tr>
<tr><td class="txtsize" id="elm_1700136707658" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-collapse:collapse;" valign="top">

	<div class="zpelement-wrapper zpcol-layout" id="elm_1700136707658" mbimgalign="no" style="word-wrap:break-word;padding-bottom:0 !important;overflow:hidden;padding:0px;margin:0px;">
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	    	 <table bgcolor="transparent" cellpadding="0" cellspacing="0" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;width:100%;background-color:transparent;" width="100%">
	    <tbody><tr>
		<td class="txtsize" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-top:none none none;border-bottom:none none none;" valign="top">
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		        <!--[if (gte mso 9)|(IE)]>
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				  <table align="left" cellpadding="0" cellspacing="0" class="cols" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;max-width:233.31px;width:100%;border:0px;padding:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;float:left;" width="100%">
				<tbody><tr>
		                <td class="txtsize" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px;" valign="top">
                                    <div class="zpwrapper col-space" id="pos_1700136707651" style="padding:0px;">

	    	<table bgcolor="transparent" border="0" cellpadding="0" cellspacing="0" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px;width:100%;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;background-color:transparent;">
	    <tbody><tr>
		<td class="txtsize" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:0px 0px;border-top:none none none ;border-bottom:none none none;">
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		        <table align="center" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;text-align:left;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:center;">
            		<tbody><tr><td class="paddingcomp" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px 15px;text-align:center;padding-top:0px;padding-bottom:0px;padding-right:0px;padding-left:0px;">
			<a href="https://cure-zgpvh.maillist-manage.net/click/1493f4796a37dde8/1493f4796a37d5d6" style="text-decoration:underline;border:0px;" target="_blank" zcurl_name="l_8">
			<img align="center" alt="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700136982160_cp_mailer_footer_brand_bar_personal.jpg" class="zpImage" height="27" hspace="0" size="C" src="https://stratus.campaign-image.com/images/329876000038442004_zc_v1_1700147369043_cp_mailer_footer_brand_bar_personalx2.jpg" style="width:160px;height:27px;max-width:160px !important;border:0px;text-align:center;" vspace="0" width="160">
			</a>
			</td></tr>
			</tbody></table>
		</div>
            </div>
            </td></tr></tbody></table>

		
			 <div """"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" class="zpelement-wrapper divider" id="elm_1518093935812" style=";word-wrap:break-word;overflow:hidden;background-color:rgb(255, 255, 255);">
			 <table bgcolor="rgb(255, 255, 255)" border="0" cellpadding="0" cellspacing="0" class="zpAlignPos" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;padding:0px;border:0px;border-collapse:collapse; mso-table-lspace:0pt;font-size:5px; mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color:rgb(255, 255, 255);" width="100%">
			 <tbody><tr><td class="txtsize" style=" mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:3px 7px 3px 7px;border-collapse:collapse;">
					<div class="divider" componentbgcolor="#ffffff" componentborder="#ffffff" style="margin:0px;padding:0px;text-align:center;"><table align="center" border="0" border-color="#ffffff" cellpadding="0" cellspacing="0" class="dvdrtbl" style="border-collapse:collapse;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;border:0px;font-size: 0px;width:100%;margin:auto;" width="100%"> <tbody><tr><td align="center" height="0" style="border-collapse:collapse; mso-table-lspace:0pt; font-size:12px;font-family:Arial, Helvetica, sans-serif; mso-table-rspace:0pt;font-size:12px;border:0px;padding:7px;border-top-width: 2px; border-style: solid none none; border-color: rgb(255, 255, 255); font-size: 0px; margin: 0px; padding: 0px; width: 100%;" width="100%"> &nbsp; &nbsp; &nbsp; </td> </tr></tbody></table></div>
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			</div>
		                    </div> 
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		    <!--[if (gte mso 9)|(IE)]>
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		        <!--[if (gte mso 9)|(IE)]>
						<td style="font-size:12px;font-family:Arial, Helvetica, sans-serif;border:0px;padding:0px 0px;" align="left" width=" 33.33%" valign="top">
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				  <table align="left" cellpadding="0" cellspacing="0" class="cols" style=" mso-table-lspace:0pt; mso-table-rspace:0pt;font-size:12px;max-width:233.31px;width:100%;border:0px;padding:0px;border-collapse:collapse; mso-table-lspace:0pt; mso-table-rspace:0pt;word-break:break-word;float:left;" width="100%">
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