Loading...
See More

Rand range bound‚ awaits US election

Nov 05 2012 16:43 I-Net Bridge

Related Articles

Rand weakens before US election

Rand on back foot, US vote in focus

Rand tracks euro weaker

Rand eyes US data for direction

Rand seen under pressure for rest of 2012

Rand flat‚ awaits US data for direction

 
Johannesburg – The rand strengthened slightly on Monday afternoon as traders wait for US election to start on Tuesday.

“The local currency was influenced by the positive US data from last Friday and today’s strength has just been an overreaction to it‚” said Ockert van Niekerk‚ head of trading at PSG.

At 15:30, the rand was bid at R8.7388/$ from Friday’s close of R8.7543. It was bid at R11.1631 to the euro from its previous close of R11.2522 and at R13.9549 against sterling from R14.0433 before.

The euro was bid at $1.2782 from Friday’s close of $1.2822.

“The Greece bond buy backs are also adding pressure on emerging markets‚ which is rand negative. This week we will also see the reserve banks from Australia and the UK coming out with their rate decisions and EU inflation data is scheduled to come out after that‚” Van Niekerk said.
rand  |  dollar  |  euro  |  currencies
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Goalkeeper saves five penalties with his FACE!

Nothing, and we mean nothing, will keep goalkeeper Scott Stirling from stopping the ball!

 
 

Men24.com

Hottie of the day: Jesselyn
This invention makes farts smell like chocolate!
11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...