02.08.2013 - Emerging-market currencies trail as dollar rallies
Slowly but steadily, the South African rand weakened by more than 1% to the dollar in sync with most other emerging-market currencies that were little match to the dollar's strength. The dollar gained 1.2% on the rand at ZAR9.9817 on the data, according to CQG data. Market participants once again were focused on global factors Thursday, as all eyes turned to the European Central Bank. But the dovish comment on the prospects of Europe's recovery and better-than-expected U.S. manufacturing and jobless data, were enough to make most market participants expect the dollar to make more gains.........................................Full Article: Source
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