Rand Gains Versus Euro, Bonds Advance on Europe Growth Concern
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The rand advanced versus the euro and bonds extended gains after a report showing European growth slowed more than economists forecast, fueling speculation of more currency-debasing monetary stimulus.
South Africa’s currency gained as much as 1.6 percent to 10.1474 per euro, and traded 0.7 percent stronger at 10.2389 as of 3:43 p.m. in Johannesburg. The rand rose 0.4 percent to 7.1161 per dollar.