The rand was quiet in the afternoon session on Friday, tracking the euro/dollar movement.

At 3.33pm the rand was bid at 7.4286 to the dollar from 7.3822 at its previous close. It was bid at 11.1605 to the euro from its previous close of 11.1090 and was at 12.1683 against sterling from 12.2828.

The euro was bid at US$1.5028 from US$1.5025 overnight.

A local trader said: "The rand has just been tracking the flows, following movement from the euro. Other than that it has been a very quiet day."

Dow Jones Newswire reports that the euro held on to levels above US$1.50 early on Friday in New York, and was little changed from its day-earlier levels after rising Asian stocks and strong eurozone economic data continued to stoke investors' appetite for the higher-yielding currency.

Sterling fell as third quarter economic growth data dashed hopes that the UK economy had emerged from the recession, instead posting the sixth consecutive contraction.

Investors are looking toward the 10am release of US existing home sales in September ? expected to get one last boost from the expiring homebuyers tax credit ? as an indicator of whether the US economy continues its slow march to recovery, which could boost the euro higher; a disappointment could prompt investors to shift back into the dollar.

Buying peters out as MTB looms

South African bonds remained slightly firmer during the static afternoon session on Friday as the earlier buying into weakness and short covering activity petered out. All eyes now turn to the key Medium Term Budget (MTB) on Tuesday next week where borrowing forecasts will be announced.

By 4.03pm the short-term government R154 bond was bid at 7.350 percent from a previous close of 7.430 percent. The medium-term R157 was at 8.610 percent from 8.655 percent, while the long-term R186 was at 9.190 percent from 9.265 percent.