THE rand was stable on Tuesday morning as traders digested central bank moves in SA and the US last week.
"Local markets are treading water (during) the short week in SA," said Standard Bank analysts.
"Following last week’s South African Reserve Bank meeting as well as the US Federal Reserve meeting, the rand has been range-bound between R15.10 and R15.30 (against the dollar). We expect the currency to remain largely range-bound into Thursday, with few major data releases on both the domestic and foreign front," the analysts said.
At 8.36am, the rand was trading at R15.1917 to the dollar from R15.2022 at Friday’s close.
The rand was at R17.1039 against the euro from R17.0859 and at R21.8680 against the pound from R21.8455 previously.
In other currency markets, the dollar was largely unchanged against the yen and the euro in during the Asian session on Tuesday, as the greenback failed to maintain its overnight momentum, Dow Jones Newswires said.
The greenback was hovering around the ¥112.00-mark and was at ¥111.96 at about 4.50am GMT, unchanged from levels late on Monday in New York.
The euro was at $1.1259 from $1.1239 late on Monday. Against the yen, the common currency was at ¥125.96 from ¥125.85.
The WSJ Dollar index, a measure of the dollar against a basket of major currencies, was down 0.04% at 87.11.
Federal Reserve Bank of Atlanta president Dennis Lockhart said the economy had "sufficient momentum" to justify an interest-rate increase at one of the coming Fed meetings, "possibly as early as the meeting scheduled for the end of April".
The Fed last week suggested it was likely to raise the benchmark rate only twice this year, down from earlier projections of four increases, the newswire said.
Picture: GALLO IMAGES/FOTO24/LOANNA HOFFMAN
THE rand was stable on Tuesday morning as traders digested central bank moves in SA and the US last week.
"Local markets are treading water (during) the short week in SA," said Standard Bank analysts.
"Following last week’s South African Reserve Bank meeting as well as the US Federal Reserve meeting, the rand has been range-bound between R15.10 and R15.30 (against the dollar). We expect the currency to remain largely range-bound into Thursday, with few major data releases on both the domestic and foreign front," the analysts said.
At 8.36am, the rand was trading at R15.1917 to the dollar from R15.2022 at Friday’s close.
The rand was at R17.1039 against the euro from R17.0859 and at R21.8680 against the pound from R21.8455 previously.
In other currency markets, the dollar was largely unchanged against the yen and the euro in during the Asian session on Tuesday, as the greenback failed to maintain its overnight momentum, Dow Jones Newswires said.
The greenback was hovering around the ¥112.00-mark and was at ¥111.96 at about 4.50am GMT, unchanged from levels late on Monday in New York.
The euro was at $1.1259 from $1.1239 late on Monday. Against the yen, the common currency was at ¥125.96 from ¥125.85.
The WSJ Dollar index, a measure of the dollar against a basket of major currencies, was down 0.04% at 87.11.
Federal Reserve Bank of Atlanta president Dennis Lockhart said the economy had "sufficient momentum" to justify an interest-rate increase at one of the coming Fed meetings, "possibly as early as the meeting scheduled for the end of April".
The Fed last week suggested it was likely to raise the benchmark rate only twice this year, down from earlier projections of four increases, the newswire said.
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