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South Africa’s rand firms after mixed U.S. jobs data

South Africa’s rand firms after mixed U.S. jobs data

SOUTH AFRICA'S rand firmed a tad as the dollar fell after a mixed bag of signals from U.S. jobs data left investors guessing on the course of interest rate hikes amid surging inflation. At 1505 GMT, the rand was trading at 15.9400 against the dollar, 0.27% stronger than its previous close. The rand had plumbed multi-month lows on Thursday after the dollar rallied on safe-haven demand fuelled by worries that the U.S. Federal Reserve would continue aggressive rate hikes, even though the central bank assured there were minimal chances of a 75 basis points rate hike. The Fed had on…
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