The rand was firmer against major currencies on Wednesday as the euro gained on the dollar amid indications that a populist surge among Dutch voters may be contained in elections. Latest polls suggest the right-wing Dutch PVV party might get as few as 21-25 seats, implying it will be only the second-largest party in the country. The party would have to get more than 30 to have any real chance of being strong enough in the 150-seat parliament to form a government. "That seems unlikely and the worse the PVV does, the better for risk assets and the better for the euro," said Rand Merchant Bank analyst John Cairns. At 11.41am the rand was at R13.0976 against the dollar from R13.1533. It was at R13.9232 against the euro from R13.9655 and at R15.9707 against the pound from R15.9945. The euro was at $1.0630 from $1.0608. The rand was trading in a narrow range of between R13.16 and R13.08 ahead of an expected US interest rate increase by the Federal Reserve later in the day. Analysts said t...
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.