Rand steady in early trade

Picture: Siphiwe Sibeko

Picture: Siphiwe Sibeko

Published Aug 12, 2016

Share

Johannesburg - South Africa's rand steadied against the dollar early on Friday and traders said the unit looked vulnerable to a string of global economic data due later in the session.

Read also: Rand rally 'reduces some risk to inflation'

At 06h45 GMT, the rand was trading at 13.4100 per dollar, unchanged from its New York close on Thursday.

Global markets were expected to sift through a string of US data, notably retail sales, for the latest cues about the world's largest economy.

The local bourse was set to open higher at 07h00 GMT, with the blue-chip futures index up 0.64 percent.

In fixed income, the yield on 2026 benchmark government bond adds 2 basis points to 8.46 percent.

REUTERS

Related Topics: