South Africa's Rand Gains for Second Week on Views Rates Will Keep Rising

(Bloomberg) -- The South African rand gained for a
second week, rising with other emerging market currencies on
speculation their relatively high interest rates will continue to
attract investors.

The rand strengthened beyond the 7-per-dollar level this
week for the first time since May as investors bet the Reserve
Bank will maintain the yield advantage of local assets by
continuing to raise interest rates. The yield gap between South
African benchmark 10-year debt and similar-maturity Treasuries
has widened more than 30 basis points in the past month.


Read more at Bloomberg Currencies News