The rand lost further ground on Thursday afternoon, but remained within its broad trading range against the dollar, which has been the centre of attention over the past few sessions.The local currency weakened towards R12.60 to the dollar, as US government bond yields rose to multiyear highs before settling back a little, though the positive effect on the dollar was not as pronounced as it was a few days ago.The dollar was relatively steady against the euro, but perked up against the pound and yen."While the speed of traders selling the … rand might have slowed down, the currency remains against the wall as a result of this continued buying momentum for the US dollar," said Jameel Ahmad, global head of currency strategy and market research at FXTM.Geopolitical tension and a volatile Turkish lira added to the mix, which weighed on sentiment towards emerging markets, he said.Over the past few sessions, the Turkish lira has hit a series of record lows against the dollar, despite recent...
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