Markets

South Africa's rand rises to 2-week high as US rate hike bets pushed back

Published October 7, 2015 Updated October 7, 2015 12:37pm

1 min

By Shoaib Ur Rehman

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JOHANNESBURG: South Africa's rand gained more than one percent against the dollar on Wednesday to a two-week high of 13.3600 as the greenback slipped, with investors pushing back bets of a 2015 rate hike by the Federal Reserve.

The US's trade deficit widened by its most in five months in August, reinforcing expectations that the Fed would delay hiking rates for the first time since 2006 until next year.

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