SOUTH AFRICA SELLOFF

Elsewhere in currencies, Britain’s sterling built on strong GDP data boost to hit a 9-day high.

The dollar eased 0.2 percent to 113.515 yen JPY= after hitting a three-month top. It was also down 0.1 percent against a broader basket of major currencies.

South Africa's rand ZAR= was the day's big mover again though. It dropped another 1 percent after Wednesday's budget had slashed growth forecasts, ramped up debt projections and reignite fears for its investment grade credit rating. 

It left the currency down almost 4 percent and heading for its worst week since the sacking of a respected former finance minister in March. 

The Canadian dollar also saw a major shift. It was trying to claw back ground having fallen 1 percent to a three-month low of C$1.2816 per dollar CAD=D4 after the Bank of Canada sounded more cautious than of late in its policy statement. 

Among commodities, oil slipped a touch following an unexpected increase in U.S. crude inventories and high U.S. production and exports. 

Brent crude LCOc1 was down 15 cents at $58.29 a barrel by 0900 GMT. The global benchmark is not far below its 26-month high of $59.49 hit in late September. U.S. light crude CLc1 was 15 cents lower at $52.03. 

Markets have been supported by comments from Saudi Arabia’s energy minister earlier this week reiterating the kingdom’s determination to end a global supply glut that has weighed on prices for more than three years. 

Gold drifted higher, but the main metal market mover was aluminium CMAL3 which surged to its highest in more than five years as expectations grew that growing demand and cuts to output from China will squeeze supply.