Page 4 - Markets Update 1 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

* World FX rates http://tmsnrt.rs/2egbfVh (Adds analyst commentary)

South Africa's rand weakened on Friday, as a rally in riskier assets driven by hopes of U.S. economic stimulus faded, while stocks also fell.

South Africa's rand firmed by more than 1% on Tuesday in a return of risk appetite globally as investors continued to weigh the benefits of fiscal stimulus and coronavirus vaccine rollouts over concerns about second and third wave infections.

By Reuters Staff (Updates throughout) JOHANNESBURG, Jan 7 (Reuters) - South Africa’s rand slumped more than 2% against the dollar on Thursday, taking losses since last week to almost 5%, as investor sentiment soured badly on rising COVID-19 infections, a worrying public debt trajectory and the stronger dollar. Citi said on Wednesday that it had scrapped a trade idea put in place just two days earlier that the rand would strengthen to around 14.53 versus the dollar, making a loss of 3.5% in the process. By 1655 GMT the rand was trading at 15.4150 against the U.S. currency, down roughly 2.2% ...

South Africa's rand weakened against the U.S. dollar on Friday, in line with other emerging market currencies, as currency markets turned risk-averse to the benefit of the greenback.