The rand fell on Tuesday, tracking Asian currencies lower as an uptick in United States manufacturing data lifted demand for the dollar.
At 0640 GMT the rand was 0.35% weaker at R14.2150 per dollar compared to a close of R14.1650 overnight in New York, retreating from a 1-week high hit after Moody’s delayed a potential credit rating downgrade.
A rebound in US factory activity and a strong increase in construction spending revived hopes the world’s no. 1 economy was not slowing as sharply as previously feared, boosting the greenback and treasury yields.
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