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Rand slips amid pressure on emerging-market currencies

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The dollar has firmed as a result of disappointing eurozone data, but the rand has avoided the losses of some of its emerging-market peers

The rand was weaker against major global currencies on Thursday afternoon, tracking a softer euro, after disappointing eurozone data.

The only saving grace from the report was a rebound in the German services PMI, which helped offset some of the weakness in manufacturing, said BK Asset Management MD Boris Schlossberg. Still, Germany, which is the core of the European economy, remains highly vulnerable to a manufacturing slowdown, he said.

 

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