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Only a tad

15 July 2004 Angelo Coppola

This after the release of weaker-than-expected US industrial production data saw the dollar lose a bit of ground.

RMB AM and Business Day report however, analysts saw the rand's gains as limited and expected it to remain range bound for now.

At 4pm, the rand was quoted at R6,0776 to the dollar from R6,0651 on Wednesday. It was quoted at R7,5094 to the euro from a previous R7,4867 and at R11,2620 against sterling, unchanged from Wednesday's close.

There has been a bit of strength coming through the rand, following the US industrial production data, which was worse-than-expected, a market analyst said.

The analyst expected the rand to nevertheless remain in a R6-R6,25 range going into the weekend, unless US CPI numbers due out today surprised the market.

The dollar climbed yesterday as a mixed batch of US data generally did not disappoint traders, who had come to expect weaker numbers for the world's largest economy.

Quick Polls

QUESTION

Healthcare brokers have long complained about inflation-plus medical scheme contribution increases; but pandemic may have changed things. What will pandemic-induced changes in hospital utilisation do to medical scheme contribution increase patterns?

ANSWER

Below inflation increase for 2022, then back to inflation-plus
Long-term trend of below inflation increases
Inflation-linked hikes for 2022, then back to inflation-plus
This is a 2-year hiccup, inflation-plus increase trend remains in place
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