Wednesday, 09 May 2007

Rand steady, markets eye US Fed meeting

(Reuters) - South Africa's rand was steady against the dollar on Wednesday, showing resilience despite a minor greenback recovery, and traders said the currency would trade in tight ranges during the session.

The U.S. Federal Reserve is meeting later on Wednesday and is widely seen keeping rates steady but the accompanying statement will be scrutinised for clues on the next direction for U.S. lending rates.


Read more at Reuters Africa

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