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South African Rand gains against US dollar after disappointing US jobs data

South African Rand gains against US dollar after disappointing US jobs data

  • USD/ZAR closes at 15.02 yesterday, but slips to 14.95 on Friday after disappointing US jobs data
  • GBP/ZAR: here the rand gained 0.02% to trade at 19.08 late Friday afternoon
  • EUR/ZAR: against the EUR the rand lost 0.03% to trade at 16.96 late this afternoon

The South African rand closed at 15.02 to the US dollar yesterday. Today it gradually lost more ground against the greenback, and at one stage it was trading at 15.17 to the American currency. After the United States, however, published very disappointing job creation data, the rand started gaining ground and at press time around 5pm BST, it was trading at 14.95 to the dollar, a gain of 0.48%.

Against the GBP the ZAR gained only 0.02%, and at press time it was trading at 19.08 to the British currency. Against the EUR, however, the rand didn’t do particularly well, losing 0.03% during the day to trading at 16.96.