With the South African rand falling to more than 10 to 1 against the dollar recently for the first time in four years, and losing 17 percent for the year, it seems there is nothing to stop it slipping further in the midterm. Hit by labor unrest in the mines, the key export sector, falling gold prices, a strengthening dollar on higher U.S bond yields on expectations of tapering QE, the rand looks like a one direction play in currency trading. Sitting at the end of Africa and still struggling to create jobs and housing nearly two decades after the end of Apartheid, the long term government of the African National Congress and the South African Reserve Bank just look in a tough spot. Few currency reserves to defend the rand add to the woes, leaving investors with the only reason to buy the South African unit being its large drop. But that isn’t looking like any reason to buy given there seems to be nothing to stop it falling further.