Concern about Eskom weighs on the local currency, while strong US corporate earnings reports lift the dollar
The rand was weaker against major global currencies on Wednesday morning, amid safe-haven interest in the dollar.
There is little to suggest an imminent pullback to R14.20/$ given the extent of data and event risk sweeping through the local market, said Rand Merchant Bank analyst Nema Ramkhelawan-Bhana. At 9.55am the rand was 0.75% weaker at R14.3635/$, 0.63% down at R16.106/€ and 0.75% softer at R18.5732/£. The euro had lost 0.13% to $1.1213.US corporate earnings remain the centre of attention, but there are some local data releases this week to give the market direction.
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