Rand range-bound as market eyes risks, awaits SARB rates decision

The rand was slightly softer on Tuesday afternoon, albeit range-bound, as the dollar recovered a little from its recent weakness.

At 2.03pm, the rand was down 0.25% against the dollar at R14.0679, 0.05% against the euro at R16.0805, and 0.21% against the euro at $1.1431. The euro was 0.2% weaker at $1.1431.

The greenback wobbled a bit after dovish commentary from US Federal Reserve vice-chair Richard Clarida on Monday. However, interest in safe-haven assets gave the dollar a bit of a boost on Tuesday.

Global markets are watching Brexit developments and issues of the US-China trade war, although the Thanksgiving holiday on Thursday has subdued activity a little.

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