Money SA economy
The rand was range bound in morning trade on Friday tracking euro movement, ahead of US non-farm payrolls out later.
At 9.01am the rand was bid at R7.64 to the dollar, R9.31 to the euro and R11.18 to the pound. The euro was bid at $1.2184 from $1.2171 previously.
RMB analysts said in their morning report that the moderate increase in US private sector employment, as noted in the ADP payroll survey, pales in comparison to the expected surge in non-farm payroll employment figures due later on Friday.
Dow Jones Newswires reports that if the US non-farm payrolls report for May, due at 1230 GMT, reveals strong growth in hiring, that could boost the dollar and euro further against the yen, dealers said.
Economists surveyed by Dow Jones Newswires expect the report to show the economy added a mean 515 000 jobs, more than the 290 000 gain in the previous month.
