Related Articles
Top Stories
Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Johannesburg – The rand was range-bound in afternoon
trade on Wednesday tracking euro movement.
At
15:34 local time the rand was bid at R7.3553 to the dollar from R7.3110 at Tuesday's close.
It was bid at R9.5481 to the euro from R9.5098 before and at R11.4730 against
the sterling from R11.4043 at its previous close.
The euro was bid at $1.2997 from $1.2988 overnight.
A
local dealer said: "It has quietened down this afternoon, with the local currency
trading in a range. We need to break R7.37 against the dollar to see any real
movement," she said.
Dow Jones Newswires reports that a recent string of worse-than-expected US data have drawn
investor attention to the US economy, taking the focus off the eurozone's
sovereign-debt worries and allowing the euro to hover recently around
$1.30.
"US data may not be helpful for the dollar near-term," said Brown Brothers Harriman
analysts.
Demand for US manufactured durable goods slid in June for a second consecutive month in
another sign the manufacturing sector expansion is slowing.
Worry over the US economy taking a downturn is weighing on the dollar, Wilkinson said.
Investors will pour over the Federal Reserve's Beige Book, to be released at 2
p.m. EDT, for another assessment of the US recovery from the perspective of
the regional Fed banks.
- I-Net Bridge