THE rand was steady at midday on Tuesday with little data to influence the market and as the dollar regained some lost ground against the euro.Investors are waiting for the release of US nonfarm payrolls data on Friday; until then the data calendar remains thin, with very little to push the market in any direction.At 11.32am the rand was at R12.0442 against the greenback following a close of R12.0614 on Monday.The local unit was at R13.3556 against the euro from a previous close of R13.4478 and traded at R18.2056 against the British pound‚ from its previous close of R18.2377.The euro was at $1.1089 from a close of $1.1149.In the early months of 2015 the rand lost ground against the dollar, but was holding up against the euro, which was hurt by concern about Grexit and the expectation of stimulatory measures from the European Central Bank (ECB).The trend has reversed a little in April as the rand lost 2.7% against the euro and 1.7% versus the British pound. It gained 1.8% against the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.