Rand loses ground against dollar in late trade on Tuesday in line with other emerging market currencies THE rand lost ground against the dollar in late trade on Tuesday in line with other emerging market currencies, which also softened against the greenback."We’ve seen emerging market currencies weaken this afternoon, with the dollar better bid," a Johannesburg-based trader said.An analyst quoted by Dow Jones newswires said the dollar was once again gearing up to retake its spot as the safety currency of choice. Currency market volatility increased as Moody’s Investors Service downgraded Japanese government debt on Monday.At 4.21pm the rand was at R11.0745 to the greenback from Monday’s close of R11.0007.Against the euro, the local unit traded at R13.7462 from R13.7109 previously and was at R17.3399 against the pound from R17.2986 on Monday.
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