Economy News Headlines - Yahoo! News: S.Africa's rand recovers against dollar, eyes 8.85

Economy News Headlines - Yahoo! News Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.

S.Africa's rand recovers against dollar, eyes 8.85 Feb 2nd 2013, 08:47 JOHANNESBURG (Reuters) - South Africa's rand was on track for a second day of gains against the dollar on Friday, eyeing 8.85 as investors that had sold the currency due to a gloomy economic outlook readjust their positions. Government bonds took their cue from the stronger currency, with the yield on the heavily-traded benchmark 2026 bond shedding 5 basis points to 7.295 percent. The yield for the short-dated paper due in 2015 was down 3.5 basis points at 5.325 percent. The rand traded up 0.85 percent at 8.8756 to the dollar by 1552 41 GMT, after ending Thursday's session in New York at 8. ...

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