South Africa's rand softens after failing at key resistance

South Africa's rand eased against the U.S. dollar on Thursday after failing to push through the stubborn 12/$ resistance level, while investors waited for direction from U.S. jobs numbers due in the next session. The weak state of the domestic economy was also in focus after Finance Minister Nhlanhla Nene told parliament a sluggish global recovery and domestic constraints such as power shortages were holding back growth.