The rand was firmer on Wednesday morning as the lack of news flow helped the currency find its footing.
At 8.20am‚ the rand was at R12.3566 to the dollar from a close on Tuesday of R12.4332.
The rand was at R13.9464 against the euro from a previous close of R14.0249 and was at R19.0457 to the British pound from R19.1225.
The euro was at $1.1286 from $1.1281.
Risk event on the day is limited‚ although analysts expect investors to watch international developments.
“Risks are coming back into play. Weakness in global bonds and equities‚ uncertainty over Greece and the volatility in the dollar could all impinge on the incipient trend of mild rand gains‚” said Rand Merchant Bank.
Later in the week‚ Statistics SA will release mining and manufacturing data‚ which could provide some direction. – BDlive
Rand find its footing
At 8.20am‚ the rand was at R12.3566 to the dollar from a close on Tuesday of R12.4332.
The rand was at R13.9464 against the euro from a previous close of R14.0249 and was at R19.0457 to the British pound from R19.1225.
The euro was at $1.1286 from $1.1281.
Risk event on the day is limited‚ although analysts expect investors to watch international developments.
“Risks are coming back into play. Weakness in global bonds and equities‚ uncertainty over Greece and the volatility in the dollar could all impinge on the incipient trend of mild rand gains‚” said Rand Merchant Bank.
Later in the week‚ Statistics SA will release mining and manufacturing data‚ which could provide some direction. – BDlive
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