South African Rand Headed for Fourth Weekly Loss
The South African rand is heading for a fourth consecutive weekly loss as a stronger dollar and rising global bond yields weigh on emerging market assets. Investors are now awaiting the upcoming US payrolls report for further market direction.
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The South African rand headed for a weekly loss of nearly 2% on Friday morning, pressured by a stronger dollar and rising global bond yields. The slide marks four consecutive weeks of losses for the currency amid a broader flight from riskier emerging market assets. Higher yields on United States Treasuries continue to drain capital from developing economies, weighing heavily on the USD/ZAR exchange rate.
