South African Rand Falls To Near 2-week Low Versus U.S. Dollar
16 June 2016 - 7:18PM
RTTF2
The South African Rand drifted lower against the U.S. dollar in
European deals on Thursday, as oil prices declined amid demand
concerns and a global supply glut.
Global markets were hammered on worries about the impact of a
British exit from the European Union on the global financial
system, as well as lack of inaction by the central banks in the
U.S., Japan and U.K. against the backdrop of slowing global
growth.
The South African Rand declined to 15.47 against the greenback,
its lowest since June 3, from an early session's high of 15.16. The
South African Rand may locate support around the 16.00 zone. The
pair finished yesterday's trading at 15.24.
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