• Conflict over water, coal

    SA's leaders have upped their support of the water-intensive coal industry, says Keith Schneider.

  • Cost of doing business

    The world can't afford the $4.7trn a year in environmental costs of business, says Mandi Smallhorne.

  • Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

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Rand cut morning losses to trade flat

Aug 16 2012 16:57
I-Net Bridge
Johannesburg – The rand was off its worst levels in the afternoon session‚ with analysts attributing the day’s recovery in the rand/US dollar to worse-than-anticipated US housing data‚ which kept hopes alive of more monetary easing from the US Federal Reserve.

At 16:09 local time the rand was bid at R8.2238 to the dollar from Wednesday’s close of R8.2140. It was trading at R10.1321 to the euro from its previous close of R10.0884 and at R12.9275 against sterling from R12.8809 before.

The euro was bid at $1.2329 from $1.2281.

US home building slipped in July after a strong gain in June while new permits rose to their highest level in four years‚ Dow Jones Newswires reported.

Housing starts decreased 1.1% last month from June to a seasonally adjusted annual rate of 746 000‚ the Commerce Department said on Thursday. Compared with a year ago‚ new construction was up 21.5%. The results were weaker than forecast.

 
rand  |  market  |  jse

 
 
 

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