Fin24

Rand hits fresh low on US jobs data

2012-06-01 14:49

Johannesburg - The rand fell 2.2% to a fresh three-year low against the dollar on Friday after below-consensus US jobs data pointed to a slowdown in the world’s largest economy.

The rand briefly touched R8.71 to the dollar, its weakest since May 2009, before coming back slightly to R8.6670 by 12:36 GMT.

Analysts say the currency may fall as far as R8.80 in the short term.