The South African rand gained today as the reports showed that the Chinese manufacturing expanded more than expected and the US consumer confidence improved, increasing the appeal of the higher-yielding currencies.

The China Federation of Logistics and Purchasing Managers’ Index advanced from 54.7 to 55.2 in November, while a small increase to 54.8 was expected. The Conference Board Consumer Confidence Index increased in November to 54.1, following the increase to 49.9 in October. The median forecast promised a value of 52.7.

USD/ZAR dropped from 7.101 to 7.031 as of 10:51 GMT today.

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