The South African currency steadied amid thin trading volumes as cautious optimism surrounding a recovery in global trade growth was put against concerns that simmering US-Sino tensions will smother risk appetite according to NKC Research. busrep
JOHANNESBURG - The South African currency steadied amid thin trading volumes as cautious optimism surrounding a recovery in global trade growth was put against concerns that simmering US-Sino tensions will smother risk appetite according to NKC Research.
Holiday celebrations meant that a wide spectrum of markets across Asia, Europe and the United States were closed yesterday. On domestic soil, South Africans welcomed the announcement that the next level of the phased reopening of the economy will commence on June 1. At the close of local trade, the rand quoted 0.35 percent weaker at R17.66/$, after trading in range of R17.54/$ - R17.72/$. The rand clawed back yesterday’s losses overnight. Expected range today R17.30/$ - R17.70/$.
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