South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/Illustration/File photo Acquire Licensing Rights
JOHANNESBURG, Oct 6 (Reuters) – The South African rand recovered some losses on Friday after slumping to a four-month low earlier on the back of positive U.S. payrolls data.
At 1328 GMT, the rand traded at 19.5150 against the dollar , near its previous close of 19.5125.
It earlier touched 19.6400 – its lowest since June – after non-farm payrolls data out of the United States showed a larger than expected increase in jobs for September.
The dollar last traded around 0.3% stronger against a basket of global currencies.
Analysts had earlier warned that encouraging U.S. employment figures would bolster the dollar and adversely impact the rand.
The rand has lost about 12.7% against the greenback since the start of the year.
“The rand has…
