Rand Declines First Day in Three as Data Damps Risk Appetite
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The rand declined for the first time in three days, retreating from a three-week high, and bonds gained as data in the U.S. and Europe fueled concern about the global economy and producer inflation in South Africa slowed.
South Africa’s currency slipped 0.4 percent to 7.7779 per dollar as of 3:39 p.m. in Johannesburg, paring its gain this week to 1 percent. The yield on the nation’s 6.75 percent bonds due 2021 dropped three basis points, or 0.03 percentage point, to 7.67 percent.