Friday, February 9, 2007

Rand softer, seen stuck in ranges

South Africa's rand was slightly weaker against the dollar on Friday, giving up overnight gains prompted by a firmer euro after news that the European Union may hike interest rates in March.

The rand was trading at 7.15 versus the dollar at 0643 GMT, from its New York close of 7.1385 on Thursday.

With little impetus seen to inspire movements either way, traders said the rand would likely trade in narrow ranges in the session.

Read more at Reuters South Africa

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