Johannesburg – The rand was slightly
weaker in afternoon trade from earlier levels‚ pushing towards the
8.15/US dollar level‚ off low volumes.
At 15:50 local time the rand was bid at
R8.1482 to the dollar from Monday’s close of R8.1491. It was bid at
R10.0567 to the euro from its previous close of R10.0515 and at
R12.7761 against sterling from R12.7775 before.
The euro was bid at $1.2343 from
The euro flip-flopped against the
dollar as data showing the eurozone economy close to recession dented
the early positive sentiment generated from better-than-expected
French and German data‚ Dow Jones Newswires reported.
The single currency started the
European session strongly‚ rising to a one-week high against the
buck after data showing some growth in Germany and stagnation in
France - performances that were both better than economists polled by
Dow Jones Newswires had expected - boosted sentiment toward
currencies perceived as risky bets.
But the positive momentum didn't last
as data showing the 17-country currency bloc's gross domestic product
contracted in the second quarter pulled the euro down against the
dollar and weighed on the pound and commodity-linked currencies of
Australia‚ New Zealand‚ Canada and South Africa.