On the foreign exchange market, the European currency weakened against the dollar on Friday, August 12, 2022, undermined by fears of a recession in the Old One. For its part, the South African rand is rising.

The eurozone is falling into recession due to the gas cost crisis in Europe. Thus, the euro was losing ground against the dollar on Friday. Around 08:50 GMT (10:50 CET), the euro fell around 0.20% to 1.0299 dollars.

The South African rand rose slightly earlier in the day as investors remained cautious about the Federal Reserve's position on aggressiveness Eacute; with which it could raise interest rates, despite lower inflation figures at the start of the week. At 06:46 GMT, the rand was trading at 16.2300 against the dollar, 0.15% higher than its previous close.

The pound sterling thus limited losses against the greenback (-0.20% to 1.2180 dollars per pound) and even stagnated against the euro (-0.007% to 84.56 pence per euro). The dollar index, which measures the currency against six rivals, recovered slightly and last traded at 105.16.