Rand Rallies to Lead Emerging Markets Before S&P Decision

  • Currency set for three-week high after U.S. payrolls numbers
  • Gains seen capped before potential downgrade later Friday

The South African rand rallied as much as 2.2 percent against the dollar to lead gains by emerging market currencies after weaker-than-forecast U.S. payrolls numbers bolstered the likelihood that the Federal Reserve could delay its next interest-rate increase.

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