The South African rand strengthened against the dollar on Friday, erasing earlier losses after a key report showed the US labor market cooled sharply over the past three months.

The USD/ZAR exchange rate rose for four consecutive days, reaching its highest level since July 16. What next for the South African rand?

The South African rand fell on Monday as the dollar gained on global markets, with analysts saying its decline was exacerbated by expectations for a local interest rate cut and jitters over looming tariffs on South African exports to the United States.