South Africa's rand under pressure as trade deficit widens

South Africa's rand weakened for the second straight day against the dollar on Friday, hitting a session trough after data from the revenue service showed a trade deficit for April, the latest sign of a struggling economy. The local unit was within easy reach of five-week lows hit this week after Statistics South Africa said GDP growth expanded by only 1.3 percent in the first quarter while the jobless rate worsened. The rand fell to 12.1850 versus the greenback on Friday from Thursday'