All data is delayed
See More

Rand slips on euro strength

Feb 01 2013 12:46
I-Net Bridge
Johannesburg – The rand slipped at noon‚ reversing earlier gains‚ due to broad based euro strength.

At 11:55‚ the rand was bid at R8.9890/$ from its Thursday close of R8.9597 and Wednesday’s close of R9.0187. 

The local currency was bid at R12.2756/€ from its previous close of R12.1921 and at R14.2206 against sterling from R14.2148 before. The euro was bid at $1.3663 from Thursday’s close of $1.3610 and Wednesday’s close of $1.3568.

“The broad theme at the moment is euro strength across major crosses rather than dollar/rand strength‚” said Jim Bryson‚ currency trader at RMB.

"Stop loss/barrier runs have been the name of game‚ with moves in €/$ (through 1.36) prompting similar squeezes in €/¥ (through 125) and $/¥ (through 92)‚" said analysts at RBC Capital Markets in a research note‚ Dow Jones News Wires reported. 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

rand  |  currencies



Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote