JOHANNESBURG - The rand was a touch weaker in early deals on Wednesday as traders refrained from making any large moves ahead of the budget speech later in the day.
* At 0655 GMT, the rand traded at 11.75 versus the dollar, 0.17 percent weaker from its overnight close in New York.
* NKC African Economics expects the currency to trade in an 11.60-11.95/dollar range on budget Wednesday.
* Investors are also focusing on an expected cabinet shake-up under new President Cyril Ramaphosa and the future of Finance Minister Malusi Gigaba, who is due to deliver the budget speech in the afternoon.
* Stocks opened little with the benchmark JSE-Top 40 index at 51,071.
* In fixed income, government bonds were flat, with the yield on the benchmark instrument due in 2026 ZAR186= at 8.10 percent.
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