(Bloomberg) -- South Africa's rand fell against the
dollar, snapping a three-day gain, on speculation that recent
gains already reflect the outlook for higher interest rates.
The rand last week touched its highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing Japanese yen or Swiss
francs more cheaply. The Reserve Bank has increased borrowing
costs five times in the past year and is expected to continue
doing so to curb inflation.
Read more at Bloomberg Currencies News
dollar, snapping a three-day gain, on speculation that recent
gains already reflect the outlook for higher interest rates.
The rand last week touched its highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing Japanese yen or Swiss
francs more cheaply. The Reserve Bank has increased borrowing
costs five times in the past year and is expected to continue
doing so to curb inflation.
Read more at Bloomberg Currencies News
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