The rand strengthened the most in a week as comments from European Union President Herman Van Rompuy boosted the currency of its largest trading partner amid expectations of more stimulus measures from the Federal Reserve. South Africa’s currency gained 0.6 percent to 8.3986 per dollar by 5:45 p.m. in Johannesburg, its biggest increase since Aug. 21. Yields on the nation’s 13.5 percent bonds due September 2015 fell three basis points, or 0.03 percentage point, to 5.55 percent, snapping two days of advances. Europe’s shared currency rose from a one-week low after Van Rompuy said the region’s rescue fund is ready for rapid action to aid Spanish banks and Spain sold more bills than its maximum target at an auction. Fed Chairman Ben S. Bernanke said last week there’s “scope for further action� from the U.S. central bank. He is scheduled to speak later this week at a symposium in Jackson Hole, Wyoming. “The market is pricing in the likelihood of more quantitative easing,� Brigid Taylor, head of institutional flow sales at Nedbank Group Ltd. (NED) in Johannesburg, said by phone. “If no specific measures are announced, you could see the euro come back a little bit, and the rand.� The euro advanced 0.5 percent to 1.2561 per dollar. The rand often moves in tandem with the euro, with a statistical correlation of 0.8 over the past year, according to data compiled by Bloomberg. The euro area buys 22 percent of South Africa’s exports, according to government data. The rand maintained its gains after second-quarter growth data lagged estimates. Gross domestic product rose to an annualized 3.2 percent from 2.7 percent in the first three months, Pretoria-based Statistics South Africa said today on its website. The median estimate of 18 economists polled by Bloomberg was 3.3 percent. To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

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