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Johannesburg - Don't write off the dollar. That seems to be message on the financial markets on Friday morning, as the euro and the rand again lost ground against the US currency with negative consequences for commodity prices and shares.
The two major indices on the JSE battled to stay in the black on Friday morning as the Gold index dropped 3.77% and the Resources index lost 1.25% due to lower commodity prices.
The Industrial index gained 0.54% which helped keep the All-share index afloat. By midday the index was unchanged at 51 603, while the Top 40-index was only 0.09% higher at 45 509 points.
The euro fell back on Friday trading at $1.0811, well below Thursday's intraday high of $1.10525. Analysts ascribed the change to the inherent strength of the dollar based on a stronger US economy.
The dollar lost gound over the past few days when fears of a speedy US interest rate hike were laid to rest.
