The rand was stable against the dollar on Friday just before midday as the terrorist attacks in Spain and uncertainties within the US administration affected market sentiment. The attack in Spain, which resulted in at least 13 fatalities and many more injured, and rumours in the US that President Donald Trump’s economics advisor, Gary Cohn, could resign kept markets on alert. The local currency came off its week’s best level against the dollar on Thursday on these recent global developments. Rand Merchant Bank analyst Isaah Mhlanga said the rand was positioned for weakness this morning and the lack of important data being released would not help reverse that course. At 11.31am, the rand was at R13.2591 to the dollar from R13.2597‚ at R15.5765 to the euro from R15.5480‚ and at R17.0990 to the pound from R17.0574. The euro was at $1.11747 from $1.1724.
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