The rand was back below R16 to the dollar on Thursday morning‚ but the market is expected to remain volatile ahead of the release of the US jobs report on Friday.
At 8.37am‚ the rand was at R15.9855 against the dollar from a previous close of R15.9275.
Against the euro‚ the rand was at R17.7142 from R17.6901 and was at R23.2876 against the pound from R23.2501 previously.
The euro was at $1.082 from $1.1109.
Rand Merchant Bank analysts said weak US data had lifted the rand on Wednesday.
“Major event risk (on Thursday) comes from US jobless claims data and the European Commission’s economic forecasts. Weaker data from the US (is) likely to cause further losses for the dollar‚” the analysts said.
US nonfarm payroll data on Friday are expected to show that the world’s largest economy added 193‚000 jobs in January.
Rand returns to below R16 to the dollar
The rand was back below R16 to the dollar on Thursday morning‚ but the market is expected to remain volatile ahead of the release of the US jobs report on Friday.
At 8.37am‚ the rand was at R15.9855 against the dollar from a previous close of R15.9275.
Against the euro‚ the rand was at R17.7142 from R17.6901 and was at R23.2876 against the pound from R23.2501 previously.
The euro was at $1.082 from $1.1109.
Rand Merchant Bank analysts said weak US data had lifted the rand on Wednesday.
“Major event risk (on Thursday) comes from US jobless claims data and the European Commission’s economic forecasts. Weaker data from the US (is) likely to cause further losses for the dollar‚” the analysts said.
US nonfarm payroll data on Friday are expected to show that the world’s largest economy added 193‚000 jobs in January.
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