(Bloomberg) -- South Africa's rand advanced for a
fourth week, its best performance in almost a year versus the
dollar, on expectations the interest-rate gap with the U.S. will
widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
fourth week, its best performance in almost a year versus the
dollar, on expectations the interest-rate gap with the U.S. will
widen.
The rand touched its highest in 11 months yesterday, buoyed
by expectations the Reserve Bank will keep raising borrowing
costs and on speculation the U.K.'s Standard Chartered Plc is in
talks to buy South Africa's Nedbank Group Ltd. The dollar held
near a record low against the euro on views slowing economic
growth will prevent the Federal Reserve from raising U.S. rates.
Read more at Bloomberg Currencies News
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