South African rand slumps at end of turbulent week
Updates prices as of 1055 GMT, adds analyst comment to paragraph 6
JOHANNESBURG, Nov 8 (Reuters) - The South African rand fell on Friday as a turbulent trading week, dominated by Donald Trump's U.S. election win, drew to a close.
The rand has mainly tracked offshore drivers this week, also moving on the outlook for U.S. interest rates and the Federal Reserve's latest monetary policy announcement on Thursday.
At 1055 GMT on Friday, the rand traded at 17.5025 against the dollar ZAR=D3, down about 1% on its previous close.
The dollar was marginally stronger against a basket of global currencies =USD.
The rand tanked on Wednesday when election results showed Trump had won the U.S. presidential race, but it reversed direction on Thursday to close stronger than Wednesday's market open.
"Looking ahead for the rand, dollar bulls are expected to reassert themselves, potentially exerting pressure on the South African rand," said Zain Vawda, market analyst at MarketPulse by OANDA.
On the Johannesburg Stock Exchange, the blue-chip Top-40 index .JTOPI last traded down about 1.3%. The benchmark 2030 government bond ZAR2030= was stronger, with the yield down 3.5 basis points to 9.16%.
Reporting by Tannur Anders;
Editing by Alexander Winning
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