(Bloomberg) -- South Africa's rand traded near a
two-week high against the dollar on speculation a slowdown in the
U.S. housing market will spill over to the rest of the economy.
The rand yesterday touched its highest since July 3,
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 dollar traded near a record low against
the euro today before reports that are expected to show inflation
and home building slowed.
Read more at Bloomberg Currencies News
two-week high against the dollar on speculation a slowdown in the
U.S. housing market will spill over to the rest of the economy.
The rand yesterday touched its highest since July 3,
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 dollar traded near a record low against
the euro today before reports that are expected to show inflation
and home building slowed.
Read more at Bloomberg Currencies News
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