Money SA economy
The rand was still stuck in range-bound trading on Monday morning, with the local unit quiet as London markets are closed for a bank holiday.
This week, the market will focus on global PMI data on Wednesday and Friday's US non-farm payrolls numbers being key, RMB analysts said.
At 8.59am local time the rand was bid at R7.30 to the dollar, R9.29 to the euro and R11.33 to the pound. The euro was bid at $1.2727 from $1.2753 overnight.
A trader said the rand was quiet this morning because London markets were closed for a bank holiday on Monday. The trader however said he expected market activity to spring back to life later today, when the US markets open.
Dow Jones Newswires reported that if the Bank of Japan was hoping to escape the recent barrage of criticism over its lack of action to tackle the strong yen, its announcement of a new monetary easing seemed to fall on deaf ears in the currency markets, which took in the news and immediately pushed the Japanese currency higher.
