Rand on track for fourth week of gains
The rand was firmer against major global currencies on Friday morning, on track for its fourth consecutive week of gains against the dollar, amid progress in the US-China trade war.
The chance of an escalation of the US-China trade war and of a no-deal Brexit have diminished, said AxiTrader senior market analyst Stephen Innes in a note.
Markets are waiting for the EU to pronounce on whether a UK request for another Brexit extension will be granted, although some reports have suggested this decision will be made public only on Monday.
UK Prime Minister Boris Johnson has called for a general election on December 12.
At 9.05am the rand was 0.33% firmer at R14.6426/$, 0.27% up at R16.2694/€ and 0.29% stronger at R18.8241/£. The euro was flat at $1.1111.
The rand has gained 0.64% against the dollar so far this week, having risen 3.2% in June.
Source: businesslive.co.za
