Money SA economy
The South African rand softened a fraction in midday play on Thursday amid importer demand, while a pullback on the gold price overnight also weighed on the local currency.
At 11.43am the rand was bid at R7.44 to the dollar, R10.15 to the euro and R11.14 to the pound. The euro was bid at $1.3653 from $1.3642 previously.
A local trader said: "We are seeing importer demand with guys being caught a little short leading to rand weakness. We also saw a pullback on the gold price overnight. We have been the darlings of the exchange, so this is simply a case of our positioning in the market."
Dow Jones Newswires reported that concerns about further monetary tightening in Asia hit the euro and dollar as investors pushed into the safe-haven territory of the yen.
Investors also warned that the euro and dollar could slip further if US initial jobless claims, expected at 1330 GMT, disappoint.
Elsewhere, spot gold was last seen at $1108.15 per troy ounce, largely unchanged from the New York close, after falling to a two-week low overnight.
