03 Feb 2012Johannesburg - South Africa's rand hovered close to the previous day's five-month highs against the dollar on Thursday but could come under renewed pressure in coming days as fears of global contagion from euro zone debt problems, particularly in Greece, persist.
Improved risk appetite has lifted the rand by about five percent against the greenback since the start of this after tumbling nearly 23 percent last year as Europe's debt woes drove investors to traditional safe-haven assets, away from emerging markets seen as carrying more risk.
http://www.fin24.com/Markets/Currencies/Rand-near-5-mnth-high-Greece-casts-shadow-20120202
