South African Rand Strengthens To 1-1/2-month High Versus U.S. Dollar
October 15 2015 - 2:30AM
RTTF2
The South African Rand firmed against the U.S. dollar in
European deals on Thursday, as weak economic data out of the U.S.
overnight pushed back expectations for a Fed rate hike into next
year.
Traders await U.S. inflation data later in the day for further
clues about monetary policy.
The South African currency advanced to 13.09 against the
greenback, its strongest since August 27. The next possible
resistance for the rand is seen around the 12.5 region. The pair
finished Wednesday's trading at 13.22.
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