The rand was largely unchanged against the dollar in range-bound trade at midday on Friday, as the market awaits developments from the ANC’s National Executive Committee meeting taking place this weekend. Analysts said the rand was tracking the dollar as the greenback stabilised against the euro and firmed against the pound. The dollar was weaker against the yen in safe-haven trade. Momentum SP Reid analysts said the support area for the dollar at about $1.1230 to the euro had halted the slide in the US unit in the past 48 hours. "However, the support cannot be described as decisive but the marginally improved tone does indicate that, for the moment, the greenback has halted the sharp trajectory of its losses," Momentum said. A weaker dollar usually supports a stronger rand. The euro has gained nearly 3% against the dollar in May. "The rand has ground to a halt for the moment in a similar manner as the dollar, with market participants awaiting the outcome of the NEC meeting this wee...
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