Money SA economy
The rand remained steady in afternoon trade on Thursday hovering around the 7.30 level against the greenback, tracking a strong euro.
At 3.42pm local time the rand was bid at R7.27 to the dollar, R9.53 to the euro and R11.39 to the pound.
"The euro has had a good day, with the rand steady at the 7.30 level against the dollar. If we break through that level, we might test 7.34, otherwise expect 7.25 tomorrow," a trader said.
Dow Jones Newswires reports that the euro rose against the dollar on Thursday to its highest level since early May after improving euro-zone economic data contrasted with festering worries that the US economy is slowing.
The dollar traded at its lowest point since April against a trade-weighted basket of its competitors as investors worried the pace of US growth would not keep up with its major competitors.
