Inflation outlook dims with rand at four-month low

The rand fell to its weakest level against the dollar in four months on Wednesday, potentially clouding the outlook on inflation with resurgent international oil prices reflected in higher fuel prices.

Renewed pressure on the rand came after a surge in US government bond yields, which give investors attractive and almost risk-free returns at the expense of their emerging market counterparts, invariably perceived to be risky relative to paper issued by developed countries. ..