Money SA economy
The rand tracked a softer euro in midday trade on Friday, extending past the 7.30 mark against the greenback.
At 11.43am local time the rand was bid at R7.31 to the dollar, R9.33 to the euro and R11.36 to the pound.
A local dealer said: The euro has come under a bit of pressure in the last hour or so, with the rand weakening as a result. However, we continue to sit within the broader 7.25-35 range against the dollar."
Dow Jones Newswires reported that a new wave of anti-risk sentiment has pushed the euro lower. However, major currency pairs continue to trade in fairly narrow ranges with investors showing little appetite for taking large positions. The dollar itself was mixed after Thursday's news that US jobless claims had risen much more than expected last week and that the Philadelphia Fed index fell sharply this month instead of rising as forecast.
