THE rand was slightly softer against the dollar in range-bound trade at midday on Tuesday after local markets were closed for Human Rights Day on Monday.
The rand traded between R15.1490 and R15.4200 to the dollar in the New York session and most major currencies were confined to limited ranges for most of the day, Nedbank CIB’s analysts said in a note.
At 11.26am, the rand was trading at R15.2786 to the dollar from R15.2022 at Friday’s close.
The rand was at R17.1132 against the euro from R17.0859 and at R21.8238 against the pound from R21.8455 previously.
TreasuryOne’s chief currency dealer, Wichard Cilliers, said the rand staged a rally on Monday while South Africans were away from work on the public holiday.
Brent Crude oil was back above $41.50 a barrel, giving impetus to commodity currencies such as the rand and the Aussie dollar to move stronger against the greenback.
The strength was in spite of commentary from two US Federal Reserve officials that interest rate increases could be warranted as soon as April, Mr Cilliers said.
Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
THE rand was slightly softer against the dollar in range-bound trade at midday on Tuesday after local markets were closed for Human Rights Day on Monday.
The rand traded between R15.1490 and R15.4200 to the dollar in the New York session and most major currencies were confined to limited ranges for most of the day, Nedbank CIB’s analysts said in a note.
At 11.26am, the rand was trading at R15.2786 to the dollar from R15.2022 at Friday’s close.
The rand was at R17.1132 against the euro from R17.0859 and at R21.8238 against the pound from R21.8455 previously.
TreasuryOne’s chief currency dealer, Wichard Cilliers, said the rand staged a rally on Monday while South Africans were away from work on the public holiday.
Brent Crude oil was back above $41.50 a barrel, giving impetus to commodity currencies such as the rand and the Aussie dollar to move stronger against the greenback.
The strength was in spite of commentary from two US Federal Reserve officials that interest rate increases could be warranted as soon as April, Mr Cilliers said.
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