• Privatisation tweet

    A probe into a tweet by Tesla chairperson and CEO Elon Musk may open pandora's box.

  • State Capture Inquiry

    Nedbank says ex-Mining Minister Mosebenzi Zwane sought to keep Gupta accounts open.

  • Tighter rules

    'Corporate scandals, rumours and innuendo' has prompted the JSE to plan new listing rules.

Loading...

Rand steady as US celebrates Fourth of July

Jul 04 2018 14:42
Fin24

The rand was steady against the dollar on Wednesday, after opening at R13.67 to the greenback. 

"We expect a quiet day in the forex markets Wednesday as the US celebrates Independence Day," said Bianca Botes of Peregrine Treasury Solutions.

At 14:35, the local currency was changing hands at R13.71, 0.3% weaker on the day. 

Andre Botha from TreasuryONE said trade would be thin on Wednesday – but that didn’t mean there couldn't be shocks.  

"With the US being out of the market [on Wednesday] we can expect some thin trading and [it’s] usually a quiet day in the markets.

"[However], in thin market conditions, adverse data or news can cause more severe knee jerks. We expect that the rand will have a quiet day, with all eyes fixed on tomorrow and Friday, when the Fed minutes and non-farm payroll numbers come into focus."

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter and Facebook. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication. We reserve editorial discretion to decide what will be published. Read our comments policy for guidelines on contributions.

rand  |  markets  |  currencies
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

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

Voting Booth

Did you find Markus Jooste's testimony convincing?

Previous results · Suggest a vote

Loading...