Johannesburg - South Africa's rand was largely steady against the dollar early on Tuesday with ongoing US debt ceiling negotiations the main driver of sentiment in the absence of market-moving domestic news.
At 08:43 SA time, the rand was trading at 9.9230 to the greenback, barely moved from Monday's close in New York at 9.9150.
It was down 0.6 percent at 13.4581 against the euro.
“Developments out of the US are still driving the markets and as reports circulated overnight that the US Senate is near a deal to raise the debt ceiling ... the dollar is opening the day slightly stronger,” Standard Bank trader Jan de Fouw said in a market note.
In fixed income, government bond yields edged higher across the curve, with the 2026 secondary market benchmark up 2.5 basis points at 7.955 percent while the shorter-dated 2015 instrument added half a basis point to 5.91 percent. - Reuters