South Africa's rand extends losses ahead of holiday

JOHANNESBURG: South Africa's rand stretched early losses to its weakest level in nearly one week on Wednesday as traders closed positions ahead of a national holiday, slipping as much as 1.6 percent 13.2600 per dollar at 1145 GMT.

"It's not anything specific, but more of a technical rebound. Anything below 13.30 is still within the range," said currency trader at Rand Merchant bank Jim Bryson.

"We'd have to see a break below 12.8800 to see an momentum on the downside," Bryson said.