Money SA economy
The rand was range-bound in morning trade on Tuesday, tracking the euro amid local GDP data out later.
At 8.58am the rand was bid at R7.70 to the dollar, R10.49 to the euro and R11.94 to the pound. The euro was bid at $1.3628 from $1.3605 previously.
A local currency trader said: "We saw a reasonable try to break through the range on the upside last night. GDP data is out later, although it doesn't usually have too much of an impact on the rand.
"There is also data out in Germany, and the US later. The euro is also trading steadily."
RMB analysts noted in their morning report that investors seem a little fed up with the rand's inability to break lower and as they give up hope, US dollar/rand has pushed back to the upper-end of its range.
There are also reported rumours of SARB buying.
Dow Jones Newswires reports that the dollar fell against the yen in Asia on Tuesday as recent remarks by Federal Reserve officials and declining short-term US Treasury yields led investors to the view the Fed won't raise its key policy rate soon.
