JOHANNESBURG - The rand traded weaker against the greenback during yesterday’s European trading session according to NKC Research.
In the absence of any major domestic developments, the South African weakened in line with broad US dollar strength. US Treasury bonds, along with other safe-haven assets such as gold, got a temporary boost from negative headlines in Italy which were seen to raise risks in the eurozone. At the close of local trade, the rand quoted 0.1 percent weaker at R14.31/$, after trading in the range of R14.21/$ - R14.44/$. The rand traded little changed overnight. Expected range today R14.20/$ - R14.45/$.
South African bourse
The JSE All Share (-0.6 percent) ended lower yesterday dragged by losses in most sectors apart from mining (+2.15 percent). In the overall emerging market sphere, the MSCI Emerging Market Index (-1.4 percent) traded lower. In local news, mining shares were up, with the likes of Sibanye (+10.3 percent), AngloGold (+4 percent) and Gold Fields (+3.5 percent) closing in the black after gold vaulted higher.
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