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SA’s Rand firms to 1 week high against US dollar

SA’s Rand firms to 1 week high against US dollar

Johannesburg: According to the currency trader at Rand Merchant Bank, the rand firmed to a new one-week high against the dollar on Thursday.

“The dollar is softer across the board ahead of holidays, and especially ahead of the nonfarm payrolls that come out tomorrow, so you’ll find some position lightening at the moment,” said Lee Naisbitt, a currency trader at Rand Merchant Bank, referring to Friday and Monday public holidays.

The trading at $11.9300  as the greenback softened ahead of widely watched US employment data due on Friday.