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South African rand slips as stronger dollar and oil supply risks weigh
JOHANNESBURG: The South African rand weakened in early trade on Wednesday as a stronger US dollar reduced demand for risk-sensitive assets, while concerns over oil supply risks kept investors cautious. At 0635 GMT the rand traded at 16.5850 against the dollar , about 0.3% down from its previous close. The US dollar index edged higher as investors awaited the minutes of the Federal Reserve’s September meeting for clues on whether policymakers remain inclined to raise US interest rates further. Oil prices rose as supply risks from a storm threatening US oil regions and Houthi attacks on...
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