Rand weakens ahead of U.S. Fed policy conference

The rand weakened more than 1 percent against the dollar on Thursday ahead of the U.S. Federal Reserve policy conference due later, as more investors anticipated a December rate hike.

At 1405 GMT the rand weakened 1.25 percent to 14.3270 against the greenback, hovering near an all time low of 14.3860.

"The selling that we're seeing on the rand is in anticipation of more hawkish statements from the Federal speakers that are scheduled today," ETM Analytics market analyst Jana van Deventer said.

(Reporting By ; Editing by James Macharia)