Markets

South Africa's rand weakens as rally for riskier assets pauses

Published June 23, 2015 Updated June 23, 2015 01:48pm

1 min

By Shoaib Ur Rehman

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JOHANNESBURG: South Africa's rand weakened more than one percent to the dollar on Tuesday, softening to a one week low of 12.2300 per greenback as a recent rally for riskier assets petered out.

According to one trader, technical factors were also beginning to filter through with the 12.30 support level in sight, putting some strain on the dollar rand cross.

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