The Rand is trading in a narrow band between R 14.10- R14.50, however within that narrow band alot of variability exists; each day large swings within that range occur as investors show the lack of direction both local and international markets.
This is due to the continuing uncertainty of both a US interest rate hike. Many analysts believe that a hike is inevitable, but the statements coming out from the Federal Bank change daily from board member to board member.
With employment levels in the USA peaking, the dual mandate of the Fed (control inflation and create employment) is presenting problems for policy makers. Full employment will hecneforth allow the fed to raise rates (albeit at a slow pace).
Across in Europe, the data is mixed, Germany and the UK (despite brexit) continue to show strength while the rest of the continent lags behind.