The rand was largely unchanged at firmer levels at midday on Friday on a weaker dollar. The dollar weakened against the euro after Republicans in Congress postponed a vote on President Donald Trump’s new healthcare plan until Friday, amid indications there were not enough votes to pass the landmark bill at this stage. The bill is seen as a precursor of further expected legislation that has driven markets higher over the past few months, such as tax reform. "The rand has found renewed support in New York following its break to R12.48 against the dollar," analysts at Nedbank Corportate and Investment Banking said. However, gains for the day could be limited as there were no local data releases scheduled for today. At 11.38am, the rand was at R12.4697 against the dollar from R12.4652, after reaching a best level of R12.4529 in intra-day trade. The rand was at R13.4670 against the euro from R13.4396, and at R15.5708 against the pound from R15.6077. The euro was at $1.08 from $1.0782. Th...
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.