BD: Rand softer in wake of unchanged US interest rates
THE rand was softer against the dollar at midday on Thursday as the greenback gained traction after the US Federal Reserve left US interest rates unchanged overnight.
At 11.51am the rand was at R12.6711 to the dollar from a previous close of R12.5446. The rand was at R13.9068 against the euro from a previous close of R13.7831 and at R19.7970 to the British pound from R19.5713 previously.
The euro was at $1.0975 from its previous close of $1.0986.
Nedbank Capital analysts said as the much anticipated meeting of the forward open market committee has now passed, in which the Fed continued to prepare the markets for the probability of an increase in interest rates before the end of the year, the focus has shifted to the next set of US non farm payroll statistics.
