US Dollar Eases From 1-week High Versus South African Rand
August 11 2010 - 3:02PM
RTTF2
After hitting a 1-week high of 7.3219 at about 10:45 am ET, the
US dollar reversed its direction against the South African rand in
New York afternoon deals on Wednesday. The pair that closed
Tuesday's New York session at 7.2124, is now trading near
7.2879.
South Africa's manufacturing output increased at faster pace in
June.
Manufacturing production increased 8.8% on an annual basis in
June, faster than a 8.1% growth in the previous month, a report by
the Statistics South Africa showed on Wednesday. Production
increased for the seventh successive month. Economists' had
expected an increase of 6.7%. A year earlier, output decreased
17%.
On a seasonally adjusted basis, the physical volume of
manufacturing production index rose 0.7% month-on-month in June,
compared to a 0.6% fall expected by economists'. In the April to
June period, manufacturing output increased 0.8% compared to the
previous three months.
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