South Africa’s rand, stocks weaker after Fed comments

South Africa’s rand retreated for a third consecutive session on Friday to its weakest level in a week against the dollar while stocks also fell, both assets pressured by signs the US central bank could still lift rates this year. PHOTO: COURTESY

South Africa’s rand retreated for a third consecutive session on Friday to its weakest level in a week against the dollar while stocks also fell, both assets pressured by signs the US central bank could still lift rates this year.

The rand had slid 0.9 per cent to 13.5065 per dollar, following a close at 13.3860 overnight in New York.