Weak U.S. data offers South African rand reprieve

JOHANNESBURG (Reuters) - South Africa's rand recouped earlier losses against the dollar on Thursday, turning slightly firmer after weak U.S. home sales and manufacturing activity data pointed to sluggish growth. Signs of faltering expansion in the world's biggest economy have made a June rate hike less likely. This has in turn bolstered investors' appetite for assets denominated in high-yielding emerging currencies like the rand. At 1539 GMT the local unit traded at 12.2005 versus