UPDATE 1-South African rand falls on firm dollar, stocks up [Reuters (UK)]
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Source: Reuters
UPDATE 1-South African rand falls on firm dollar, stocks up | Reuters 3 Min Read (Updates prices, adds analysts quote) JOHANNESBURG, Feb 6 (Reuters) - South Africa’s rand fell on Wednesday, in line with broad weakness in emerging market currencies, as the dollar settled near a two-week high after U.S. President Donald Trump’s State of the Union speech failed to surprise currency traders. Stocks closed higher, with miners among the biggest gainers. At 1515 GMT, the rand was 0.93 percent weaker at 13.5075 per dollar compared with a close of 13.3825 in New York on Tuesday. With activity in currency markets remaining subdued following holidays in Asia, the rand struggled to find takers as investors awaited South African President Cyril Ramaphosa’s state of the nation speech on Thursday and the annual budget later in the month. “The upcoming weeks are of great importance for South Africa,” UBS analysts Tilmann Kolb and Jonas David said in a note. “The State of the Nation Address on 7 Febru
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