South African Rand Gains Against Dollar as Investors Seek Higher Yields

(Bloomberg) -- The South African rand rose for a
fourth day, touching a two-week high, as investors returned to
the so-called carry trade in search of higher yields.

The rand was the second best-performing major currency
versus the dollar today as traders took advantage of the
relatively high interest rates in Africa's biggest economy.
Investors bought the country's assets, funding their purchases by
borrowing in the low interest rate Japanese yen and Swiss franc,
both of which fell to record lows against the euro today.


Read more at Bloomberg Currencies News