US Dollar Rises To 6-day High Versus South African Rand
August 18 2011 - 11:06AM
RTTF2
The US dollar traded higher against the South African rand
during New York morning trading on Thursday. At 10:15 am ET, the
greenback climbed to a 6-day high of 7.2599 versus the rand,
compared to yesterday's close of 7.0924. As of now, the pair is
worth 7.2324.
On the economic front, the U.S. Labor Department reported that
consumer price index increased 0.5 percent on a seasonally adjusted
basis in July, more than erasing the 0.2 percent decline posted in
June. It was the biggest increase in consumer prices since
March.
In the economic news from the South African side, South Africa's
wholesale sales index, at constant prices, increased 8.7 percent
annually in June, faster than May's 6.6 percent growth, data
released by Statistics South Africa showed today. The latest gain
was the biggest since November 2010, when sales increased 9.3
percent.
Month-on-month, wholesale sales moved up a seasonally adjusted
1.4 percent during the month.
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