Rand firms as bad news batters the euro
At 2pm, the rand was 0.32% stronger against the dollar at R14.4087, 0.49% against the euro at R16.2416, and 0.61% against the pound at R18.6341. The euro had fallen 0.17% to $1.1271.
Issues of the Italian budget deficit continue to hover over the markets, but all eyes on are on the UK as Prime Minister Theresa May prepares to try and sell a draft Brexit agreement to British lawmakers.
“May has a real task on her hands now, that may make negotiations with the EU look like a walk in the park by comparison,” said Oanda analyst Craig Erlam.
Some focus is also on US inflation data for September, due at 3.30pm local time.
Source: businesslive.co.za
