JOHANNESBURG - According to NKC Research, the rand traded little changed during the European session with Eskom grabbing headlines as South Africa continued to grapple with severe load-shedding, hindering the local unit’s ability to benefit from market expectations for a dovish Fed statement this week.
The rand will look towards today’s domestic data releases – February inflation and January retail sales – for some reprieve. At the close of local trade, the rand quoted 0.1 percent weaker at R14.44/$, after trading in range of R14.37/$ - R14.48/$. The rand traded sharply weaker overnight. Expected range today R14.40/$ - R14.60/$.
South African bourse