South African rand falls over 1% on oil jump and Fed wait
The South African rand weakened sharply on Monday as renewed Middle East supply disruptions lifted oil prices, while investors looked ahead to the Fed policy meeting for rate outlook clues.
The South African rand weakened sharply on Monday as renewed supply disruptions in the Middle East lifted oil prices, putting fresh pressure on the currency. S. Federal Reserve's policy meeting later this week for signals on the interest rate outlook.