South African rand recoups some losses against dollar

JOHANNESBURG: South Africa’s rand recouped some losses on Wednesday, as the dollar eased slightly ahead of a US inflation report later in the day.

At 0851 GMT, the rand traded at 18.105 against the dollar , 0.45% stronger than its previous close.

The dollar index was last down 0.24% against a basket of currencies ahead of October’s US Personal Consumption Expenditures price index due later on Wednesday.

South African domestic investor focus will be on monthly producer inflation data on Thursday followed by money supply, trade and budget balance on Friday.

South African rand softens against the dollar

Trade in the rand has been volatile this week amid market jitters about the imposition of trade tariffs by US President-elect Donald Trump. On the stock market, the Top-40 index was little changed.

South Africa’s benchmark 2030 government bond was stronger, with the yield down 3.5 basis points at 9.02%.