THE rand was trading at three-week highs yesterday as dollar weakness helped the currency firm beyond the key 11-to-the-dollar level.
The rand was at 10.8700 to the dollar, nearly 1 percent stronger than Thursday's
Disappointing US data on Thursday has kept the dollar on a weaker footing and the dollar index slid to a low of 80.065 yesterday, its lowest since the start of the year.
"The dollar is pretty weak today and that's helping us. If the dollar remains weak there's all the chance that we could strengthen next week," said
"We need to close below 10.90 before we can say there will be any sort of short-term strength in (the rand)."
The yield on the 2026 government bond declined 10 basis points to 8.665 percent while that on the 2015 paper was 2.5 basis points lower at 7.14 percent. - Reuters
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- Pope Francis, Huge Crowd Joyously Celebrate Easter
- Automakers Turn to China to Fuel Sales Growth
- Iran Denounces U.S. Ruling to Sell Property
- NASA's Space Station Robonaut Finally Getting Legs
- Ohio Couple Married 70 Years, Die 15 Hours Apart
- Nevada Range Showdown Draws Armed Supporters
- Report: Iran VP Says Row Over Reactor Resolved
- Confusion, Anger as Sunken Ferry's Relatives Wait
- Putin: No Blocks to Boosting Relations With West