(Bloomberg) -- South Africa's rand rose against the
dollar, heading for its third week of gains, as expectations of
higher interest rates spurred investor appetite for so-called
carry trades.
The rand advanced to the highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing the Japanese yen or
Swiss franc more cheaply. A report yesterday showing quicker-
than-expected manufacturing growth added to speculation the
Reserve Bank will raise borrowing costs further.
Read more at Bloomberg Currencies News
dollar, heading for its third week of gains, as expectations of
higher interest rates spurred investor appetite for so-called
carry trades.
The rand advanced to the highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing the Japanese yen or
Swiss franc more cheaply. A report yesterday showing quicker-
than-expected manufacturing growth added to speculation the
Reserve Bank will raise borrowing costs further.
Read more at Bloomberg Currencies News
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