Rand hit as Japan weakens yen: Fin24: Markets: Currencies

Rand hit as Japan weakens yen: Fin24: Markets: Currencies

The rand has weakened sharply against dollar after Japanese authorities intervened to weaken their currency, sending the dollar to a 3-month high.

“It primarily seems to be driven by the large move in the euro/dollar and also on the back of the Japanese intervention. That seems to be the main driver,” said Leon Myburgh, Sub-Saharan Africa Strategist at Citi.