South Africa's rand wilts

The rand slipped against the dollar on Friday as domestic data continued to disappoint in a week where the frailties of South Africa's economy showed. By 1515 GMT the rand had weakened 0.49 percent to 12.3100 against a greenback struggling on the back of tepid jobs data likely to push back a rate hike in the United States to after September. Output and new orders in South Africa's private sector declined sharply, dragging Standard Bank's June index measuring purchasing activity to an 11-month low.