US Dollar Rises To 6-day High Versus South African Rand

The US dollar traded higher against the South African rand during New York morning trading on Thursday. At 10:15 am ET, the greenback climbed to a 6-day high of 7.2599 versus the rand, compared to yesterday's close of 7.0924. As of now, the pair is worth 7.2324.

On the economic front, the U.S. Labor Department reported that consumer price index increased 0.5 percent on a seasonally adjusted basis in July, more than erasing the 0.2 percent decline posted in June. It was the biggest increase in consumer prices since March.

In the economic news from the South African side, South Africa's wholesale sales index, at constant prices, increased 8.7 percent annually in June, faster than May's 6.6 percent growth, data released by Statistics South Africa showed today. The latest gain was the biggest since November 2010, when sales increased 9.3 percent.

Month-on-month, wholesale sales moved up a seasonally adjusted 1.4 percent during the month.