Johannesburg - The rand slipped against the dollar on Monday, with traders expecting it to be driven mainly by global market moves as the year draws to a close.
At 5pm, the rand was bid at R14.09 to the dollar, 10.59c softer than at the same time on Friday. It fell to a session low of R14.1475 earlier, mainly reflecting broad-based dollar gains against major currencies.
“There’s not a lot of news coming up in the next two weeks and I think we’re going to be range-bound. But with thin liquidity the problem always is, should there be some big trades going through, the rand will go one way and people start panicking,” Treasury One dealer, Andre Botha, said.
“My feeling is that we should watch euro/dollar and whatever euro/dollar does, rand will be a mirror image of that,” he added.