South Africa’s Rand Leads Emerging-Market Gains Against Dollar on Stimulus Bets
South Africa, Capital Markets in Africa: South Africa’s rand strengthened to a 11-week high against the dollar as prospects for stimulus in major economies boosted demand for riskier assets. The currency weakened against the pound as an expected immediate U.K. rate cut failed to materialize. The currency jumped 1.7 percent to 14.2423 against the dollar by 1:58 p.m. in Johannesburg, set for the strongest close since April 29 and leading gains among 24 emerging-market currencies tracked by Bloomberg….
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