THE rand continued to gain ground against the dollar in late trade on Friday after the better-than-expected US monthly jobs report fuelled appetite for risk.
"The Spanish 10-year bond yields also came down, boosting the euro and, in turn, the rand," said Lynden Reabow, foreign exchange sales trader PSG Prime.
Mr Reabow said the next key support level for the local currency was R8.05 to the greenback.
At 4pm local time, the rand was trading at R8.1664 to the dollar from Thursday's close of 8.3539, at R10.0655 to the euro from its previous close of R10.1737 and at R12.7161 against sterling from R12.9598 before.
The euro was bid at $1.2325 from $1.2177.
The July US jobs reading showed non-farm payrolls grew by 163,000, stronger than the median 95,000 forecast by economists polled by Dow Jones Newswires. The unemployment rate ticked higher to 8.3%.
mahlangua@bdfm.co.za
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