Rand firmer, tracking steady euro-continued

February 28, 2012-The rand remained firmer against the dollar in late afternoon trade on Tuesday as it tracked a euro that stayed steady on the eve of Europe's next cheap long-term bank funding exercise.
"Not much has changed as far as the rand goes as its trend is in line with prior sessions," a local analyst said.

"We weren't expecting too much change in the trend prior to the long-term refinancing operation auction tomorrow given the fact that it's just another event in which global quantitative easing will be expanded."

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Source: FIN24

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