South African rand jumps after U.S. inflation data

The South African rand strengthened against the dollar on Thursday, helped by dollar weakness after data showed a moderate rise in U.S. inflation in July.

At 1316 GMT, the rand traded at 18.7350 against the dollar ZAR=D3, up around 1.34% on its previous close, having risen as much as 1.7% to the dollar earlier.

But it is still down almost 5% so far this month.

The dollar =USD was last trading around 0.33% weaker against a basket of global currencies.

Source: CNBC Africa