Money SA economy
The rand was range bound in morning play on Monday, tracking the euro in thin trade.
At 8.59am the rand was bid at R7.65 to the dollar, R9.32 to the euro and R11.20 to the pound. The euro was bid at $1.2173 from $1.2145 overnight.
"We are seeing a bit of range trading at the moment at 7.58-68 against the dollar, tracking a slightly firmer euro in thin trade," a local dealer said.
RMB analysts noted in a morning report that retail sales in the US unexpectedly dropped in May, reducing the near term outlook for GDP growth, "but this looks to be a temporary dip given the sharp rise in the June consumer confidence figure.
Dow Jones Newswires reports that the euro may widen gains toward $1.2250 if stock prices improve after better-than-expected figures in Europe's industrial production data for April, dealers said.
