South Africa’s rand slips in cautious trade

South Africa’s rand weakened early on Tuesday in a broad emerging market retreat as investors reassessed expectations that the U.S. central bank would maintain its quantitative easing program at the current pace.

By 0650 GMT, the rand weakened 0.18% to 15.0275 per dollar, losing ground overnight after a recovery rally that took it to a session-best 14.9000 on Monday.

Soaring U.S. bond yields, drawing yield-searching investors back into the greenback, led to a rout of risk assets last week and dragged the rand to one-month lows. – bbc.com