Money SA economy
The rand was little changed from its overnight levels in morning play on Tuesday tracking the euro.
At 9.01am the rand was bid at R7.39 to the dollar, R9.76 to the euro and R11.28 to the pound. The euro was bid at $1.3174 from $1.3197 previously.
A local trader said: "The rand is set to track the euro, but within a range of R7.36-48/$. London is back today, so we should see more trading action."
RMB analysts noted in a morning report that Monday's global Purchasing Managers Indices (PMIs) data was very encouraging (the PMIs are surveys of manufacturing sector activity that is historically a great lead indicator of economic growth).
Dow Jones Newswires reported that the yen fell against the US dollar and the euro Tuesday in Asian trade, but failed to breach a significant psychological level, a sign that the Japanese currency is finding some support ahead of key data on US labour market later this week.
The euro was at $1.3206 from $1.3191, stuck around that area for the entire Asian session as analysts said much uncertainty remains on the fiscal picture for Greece and other euro-zone countries despite the announcement of a €110 billion Greek bailout package over the weekend.
