Money SA economy
The rand was a touch firmer in midday play on Wednesday trapped in a tight range amid quiet trade.
At 11.30am the rand was bid at R7.69 to the dollar, R9.42 to the euro and R11.29 to the pound. The euro was bid at $1.2235 from $1.2232 previously.
A local trader said: "Its very quiet. The range is 7.68-7.73 against the dollar with a wider range of 7.65-7.75," he said.
Dow Jones Newswires reports that the euro is getting a respite from sharp recent losses while the yen is being hit Wednesday after Japanese Prime Minister Yukio Hatoyama resigned.
Overall, market sentiment was mixed. A stronger-than-expected manufacturing survey from the US Institute of Supply
Management on Tuesday followed by news that Australia's GDP expanded by 2.7% in the first quarter, faster than the 2.4% expected, helped to boost the mood.
However, stock markets remained decidedly gloomy, with a 1.1% loss in the Dow Jones Industrial Average followed by a similar loss in the Nikkei.
European stocks were also heading lower with losses of more than 1%.
