The rand was firmer on Monday morning, in its third day of gains as trade truce optimism prevailed.
The latest tariffs on Chinese goods came into effect on Sunday but US President Donald Trump said the two economic superpowers would still meet for talks in September.
“Today, we expect a quiet day with the US being out of the markets and we expect the momentum from Friday to carry [over],” said TreasuryOne senior currency dealer Andre Botha. US markets are closed on Monday due to the Labor Day holiday.
At 9.55am, the rand had strengthened 0.57% to R15.145/$, 0.66% to R16.6294/€ and 0.8% to R18.3743/£. The euro was flat at $1.0979.
“The rand still feels heavy at these levels and we could see the rand trying to rally stronger should the current truce hold between the US and China,” Botha said.
Gold was flat at $1,521.66/oz while platinum was little changed at $936.63. Brent crude was also flat $59.06 a barrel.
Absa manufacturing purchasing managers index data for August is set to be released later on Monday.