Mboweni says rand's fall due to external factors

The South African rand was pummelled Tuesday by external factors such as escalating tensions in the Middle East, dollar strength, the anticipated outcome of the US elections and a failure by the European Central Bank to intervene on behalf of the beleaguered euro, South African Reserve Bank governor Tito Mboweni said.

Mboweni was speaking at a banquet held for foreign ambassadors, representatives from world bodies, politicians and top civil servants. "Traders work on sentiment and not on

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