(Bloomberg) -- South Africa's rand posted its third
week of gains against the dollar as expectations of higher
interest rates spurred investor appetite for so-called carry
trades.
The rand traded near the highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing the Japanese yen or
Swiss franc more cheaply. A report yesterday showing quicker-
than-expected manufacturing growth added to speculation the
Reserve Bank will raise borrowing costs further.
Read more at Bloomberg Currencies News
week of gains against the dollar as expectations of higher
interest rates spurred investor appetite for so-called carry
trades.
The rand traded near the highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing the Japanese yen or
Swiss franc more cheaply. A report yesterday showing quicker-
than-expected manufacturing growth added to speculation the
Reserve Bank will raise borrowing costs further.
Read more at Bloomberg Currencies News
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