Money SA economy
The South African rand was off its earlier worst levels against the US dollar by midday on Tuesday as the euro recovered some ground against the greenback.
However, it remained range bound within the expected 7.38 to 7.48 band for the day. The euro meanwhile was slightly firmer, moving through $1.35, despite the fact that the Greek issue remains in focus.
At 11.45am the rand was bid at R7.40 to the dollar, R9.99 to the euro and R11.38 to the pound. The euro was bid at $1.3510 from $1.3487 previously.
Dow Jones Newswires reported that the euro was getting a little respite after news that the Securities and Exchange Commission voted by just three to two to take action against Goldman Sachs, and as Citigroup's earnings were stronger than expected and the Reserve Bank of Australia expects the economy to return to full strength this year.
The general rise in global sentiment helped to counter the continued concerns weighing on the single currency ahead of the Greek auction later in the day.
