Money SA economy
The rand was in the middle of a range in the morning session, tracking the euro ahead of non-farm payrolls data in the US.
At 9.02am the rand was bid at R7.48 to the dollar from R7.47 at its previous close. It was bid at R10.17 to the euro and R11.23 to the pound. The euro was bid at $1.3581 from $1.3581 previously.
A local trader said: "Non-farm payrolls data is out later. The rand is in the middle of a range of 7.44-54 against the dollar tracking the euro on any break ahead of that data in the US."
In their morning commentary, RMB analysts noted that the weekend was vital for Greece as its Prime Minister, George Papandreou, meets with his German and French counterparts to secure firm commitments of support.
The country requires more than a mere pat on the back to manage their fiscal constraints and drive bond yields down to pre-budget crisis levels.
Dow Jones Newswires meanwhile reported that the yen fell against the dollar in Asia on Friday as reports that the Bank of Japan may take additional steps to ease monetary policy led investors to speculate Japanese interest rates might fall, reducing the attractiveness of yen-denominated assets.
The euro was at $1.3591 from $1.3576 and Y121.29 from Y120.98 partly due to Japanese institutional investors' euro-buying, dealers said. But the unit's bias remains downward due to lingering European debt worries.
