Johannesburg - The rand firmed slightly on Wednesday on bets of a weaker dollar in the long term.
However, at 5pm, the rand was bid at R13.1017 to the greenback, 5.59c softer than at the same time on Tuesday.
The dollar strengthened on reignited bets of a rate hike this month by the US Federal Reserve after comments by policymakers suggested the bank wanted to avoid the perception it had waited too long to increase rates.
Locally, a dearth of data releases kept attention focus on fundamentals, with analysts expecting the rand to resume a recent rally on an improved domestic economic outlook.
“There is nothing the Reserve Bank will do to effect the currency. They won’t be buying up reserves of anything like that,” said senior economist at Old Mutual, Johann Els.