Money SA economy
The rand was softer in the afternoon session on Wednesday, but a local trader noted that the local currency had to break R7.46 against the dollar to be significant, amid continued euro weakness.
At 3.41pm the rand was bid at R7.40 to the dollar, R9.91 to the euro and R11.39 to the pound. The euro was bid at $1.3404 from $1.3436 previously.
A local trader said: "The rand has weakened a bit, but has to break R7.46 to see anything significant." He noted that the local currency had tracked commodity heavy currencies earlier, with the euro continuing to slide against the greenback.
Dow Jones Newswires reported that the euro is slumping against the dollar Wednesday morning as Greek bond prices tumble and their yields surge higher against their German counterparts.
The dollar is split against other major currencies, with little change against the yen, a retreat against the Canadian dollar and a partial rebound against the UK pound.
