Money SA economy
The rand was little changed from its morning levels by midday on Friday amid very little action.
At 11.41am the rand was bid at R7.29 to the dollar, R9.94 to the euro and R11.12 to the pound. The euro was bid at $1.3584 from $1.3609 previously.
A local trader said: "Nothing has changed from this morning. The rand is trading in a range of 7.27-7.37 against the dollar, with no significant moves expected for now."
Dow Jones Newswires reported that in the European foreign exchanges Friday, the euro resumed its decline against the dollar after falling Thursday on renewed concerns about Greece's fiscal woes.
By 09:20 GMT, the single currency was trading at $1.3589, down from $1.3608 in late New York trade Thursday, while the dollar was trading at Y90.44, up from Y90.39. Against the Swiss franc, the euro dropped to a new 16-month low.
"With the Federal Reserve meeting now out of the way and the market accepting that US rates will stay low for an extended period of time, attention shifts back on the international scene [next] week," said Brown Brothers Harriman in a report.
"Lingering concerns and mixed signals as to how to resolve the Greek crisis will benefit the greenback.
"We favour selling the euro on the rallies, with the recent price action indicating that $1.3800-$1.3750 are good selling levels".
