JOHANNESBURG. — South Africa’s rand slipped against a stronger dollar yesterday.
The rand was 14,4480 versus the greenback by 0814 GMT, 0,4 percent weaker than the previous day’s close.
An index measuring the dollar against a basket of six major currencies jumped to a six-day high of 97,343 and was last up 0,1 percent at 97,302 after strong US economic data.
The rand had already fallen a day earlier as recent gains over optimism about a preliminary US-China trade deal gave way to profit-taking and concerns about Britain’s exit from the European Union.
Wayne McCurrie, of FNB Wealth and Investments, told Reuters while the rand had lost a couple of cents it has performed very well recently, bolstered by international events even in the face of problems with the economy and power supply at home. — Reuters Africa.