Rand Strengthens to Week-High on Global Recovery Signs, European Debt Plan Q

Bloomberg reported the rand advanced to its strongest level in a week as commodity prices rallied amid signs the global economy is recovering.

As quoted in the market news,

Copper rose a second day in New York as industrial metals extended the biggest rally in two years, and platinum and gold, which account for a fifth of South Africa’s export earnings, rose for a second day. South Africa’s benchmark stock index climbed to its highest in almost three months, led by raw materials export companies including Anglo American Plc and BHP Billiton Ltd.

Click here to read the full Bloomberg report.