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Rand flat, eyes US election

Nov 06 2012 13:45
I-Net Bridge

Johannesburg - The rand was relatively flat in the late morning on Tuesday as traders eye US election on policy direction.

At 11:20am‚ the rand was bid at R8.7194 to the US dollar from Monday’s close of R8.7250. It was bid at R11.1335 to the euro from its previous close of R11.1660 and at R13.9218 against sterling from R13.9418 before.

The euro was bid at $1.2775 from Monday’s close of $1.2800.

“The rand is flat as everyone is waiting for the results of the US election as well as keeping an eye on the Greece issue. The vote in Greece's parliament is important as they are voting on possible austerity measures‚” said Mark Kalkwarf‚ a portfolio manager from the Iquad Group.

rand  |  markets


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