The rand traded in a range of 7.80-7.90 in the morning session on Friday, and with the US on holiday and little economic data on the horizon, traders expect a quiet end to the week.

At 8.54am the rand was bid at 7.8358 to the dollar from its Thursday night close of 7.8583. It was bid at 10.9961 to the euro from a previous 10.9506 and at 12.8845 against sterling from 12.8350.

The euro was bid at $1.4020 from $1.3951 overnight.

A local trader said: "It's been a fairly quiet session, and we expect the rand to trade in a range of 7.80-7.90 this morning. With the US on holiday, we don't expect any fireworks this afternoon,” he said.

RMB analyst John Cairns said in his morning report: “Global markets this morning look a bit like the British and Irish Lions, mauled, battered (and gouged). US non farm payrolls fell a shockingly large 467 000 in June, a equivalent of a Phil Vickery performance - kicking markets back into touch as it shows that even if the recession game is practically over there isn't even the faintest sign that recovery will come quickly.

“The ZAR was no exception in the global mauling, having lost two tests down at 7.70 USD/ZAR ran straight up to 7.88.

“Some revival in global markets this morning means there's no second half to this match and look to play tight around 7.87 today. The Lions have their pride and justified anger to play for this Saturday and with the US on holiday and no key data either locally or in Europe we can probably ignore the ZAR and settle back and watch what promises to be a running game of rugby,” Cairns said.

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