The dollar continued to rally on Wednesday as jitters over China and global growth weighed on risk appetite. The rand hit its worst level since June, trading at R19.31/$ earlier on Wednesday. Against a basket of currencies, the dollar was at 104.77, not far off the six-month high of 104.90 touched on Tuesday. Economic data from China and Europe on Tuesday fanned some fears of slowing global growth, pushing investors to scramble for the greenback. The yen gained as Japan's top currency diplomat sent a warning about the currency after it earlier dropped to a 10-month low.

Source: News 24 September 06, 2023 16:02 UTC