JOHANNESBURG – South Africa’s rand stretched early losses for their weakest level in nearly a few days on Wednesday as traders closed positions ahead of a national holiday, slipping about 1.6% 13.2600 per dollar at 1145 GMT.
“It’s nothing specific, but really a technical rebound. Anything below 13.30 still is from the range,” said currency trader at Rand Merchant bank Jim Bryson.
“We’d ought to visit a break below 12.8800 to find out an momentum about the downside,” Bryson said.?