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Johannesburg - The rand was a tad softer in the morning session on Thursday tracking the euro, which declined, on
further European fiscal concerns.
At 09:12 the rand was bid at R7.6304 to the dollar from R7.5987 at its previous close. It was bid at R10.3564 to the euro from its previous close of R10.3558 and was at R11.9215 against the sterling from R11.9242.
The euro was bid at $1.3584 from $1.3607 previously.
A local currency trader said: "The euro is on the edge of a precipice. The euro/rand is the driver for dollar/rand. If the euro bounces we could see a steady weakening of the rand.
"The euro is key and the range is 7.59-69 against the dollar."
- I-Net Bridge