Rand steady as US celebrates Fourth of July | Fin24
 
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

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

Do you think government can solve the Eskom crisis?

Previous results · Suggest a vote

Loading...