(Bloomberg) -- The South African rand gained for a second week on speculation the yield attraction of local assets will improve, attracting more so-called carry trades.
The currency has gained more than 2 percent in the past two weeks, partly buoyed by speculation inflation at the highest in more than three years will prompt the central bank to raise interest rates. The dollar fell after a report showed the economy grew last quarter at the slowest pace in four years, prompting speculation the Federal Reserve may lower its benchmark rate.
Read more at Bloomberg Currencies News
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