[CURRENCY] At 12:00, the rand traded at 18.37 against the dollar. Moneyweb Currency
The rand was marginally stronger in early trade on Tuesday, with market attention this week likely to hinge on local purchasing managers’ index surveys and a US Federal Reserve interest rate meeting.
At 0550 GMT, the rand traded at 18.37 against the dollar, around 0.1% stronger than its previous close.PMI surveys for the manufacturing sector and whole economy will give investors further insight into the health of Africa’s most industrialised economy.Investors will focus on whether the US central bank indicates that it expects to pause rate increases after May, or if it keeps alive the possibility of another hike in June or later.
South Africa’s benchmark 2030 government bond was also slightly stronger in early deals, the yield down 0.5 basis points to 10.175%.
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