UPDATE 1-South Africa’s rand weaker as risk rally fades, stocks soften – Reuters
By Reuters Staff
(Updates rand, bonds; adds stocks)
JOHANNESBURG, Jan 22 (Reuters) – South Africas rand weakened on Friday, as a rally in riskier assets driven by hopes of U.S. economic stimulus faded, while stocks also fell.
At 1440 GMT, the rand traded at 15.0600 versus the dollar, 0.77% weaker than its previous close. The decline was in line with other emerging market currencies including the Russian rouble and Turkish lira.
The rand has mainly moved on global factors recently, shrugging off…