Money SA economy
The rand was a fraction firmer in morning trade on Friday, tracking the euro against the dollar for any direction.
At 8.59am local time the rand was bid at R7.29 to the dollar, R9.33 to the euro and R11.32 to the pound. The euro was bid at $1.2810 from $1.2805 overnight.
A local dealer said: "It’s very quiet at the moment. We will continue to track the euro, within a range of 7.24-32 against the dollar."
RMB analysts said in their morning report that US dollar/rand is still mostly tracking euro/US dollar but had some slight upside bias yesterday.
"The move most probably reflects the negative global risks environment as second tier US data continued the run of disappointments. Whatever the cause US dollar/rand had the same lows at 7.24 - but has had higher highs each day, with moves into the 7.30s late yesterday," the analysts said.
The euro was only a fraction weaker against the greenback, with no major data releases due on either side of the Atlantic.
