South Africa’s rand falls on Reuters exclusive

South Africa’s rand fell immediately on September 9 after exclusive comments to Reuters by South Africa’s Reserve Bank Governor Tito Mboweni. He told Reuters that the rand’s recent strength may have been overdone and suggested a retracement could be due in the coming days. The rand fell from 7.5038 against the dollar before the story to as low as 7.5805 afterwards. The story was also carried high on news bulletins across media in South Africa, where rand strength has added to concerns for the manufacturing sector during the first recession in 17 years. The Reuters story was unmatched by competitors