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Johannesburg – The rand was flat in the late morning on Wednesday as traders awaited the latest South African trade data‚ due at 14:00‚ for direction.
“The rand is not doing anything at the moment; it is very quiet. Traders will be looking at the Reserve Bank’s September trade data for direction‚” said Tony van Dyk‚ a currency dealer from the Iquad Group.
At 11:36‚ the rand was bid at R8.6386 to the dollar from Tuesday’s close of R8.6332, was bid at R11.2250 to the euro from its previous close of R11.1899 and at R13.9296 against sterling from R13.8739 before.
The euro was bid at $1.3001 from Tuesday’s close of $1.2961.
“Traders are expecting a trade deficit of around R10bn‚ which is better then the previous month. If it comes in worse than that then it will be very rand negative‚” Van Dyk said.
“The rand is not doing anything at the moment; it is very quiet. Traders will be looking at the Reserve Bank’s September trade data for direction‚” said Tony van Dyk‚ a currency dealer from the Iquad Group.
At 11:36‚ the rand was bid at R8.6386 to the dollar from Tuesday’s close of R8.6332, was bid at R11.2250 to the euro from its previous close of R11.1899 and at R13.9296 against sterling from R13.8739 before.
The euro was bid at $1.3001 from Tuesday’s close of $1.2961.
“Traders are expecting a trade deficit of around R10bn‚ which is better then the previous month. If it comes in worse than that then it will be very rand negative‚” Van Dyk said.
