Johannesburg- The rand strengthened against the dollar early on Wednesday, helped by investors' appetite for riskier assets on expectations that the US Federal Reserve will delay hiking interest rates.
At 08:15 the rand was trading 0.4% stronger at R11.8375/$ compared with its closing level on Tuesday.
"Rand gains have been helped by an ongoing risk-on tone in global markets following the payrolls figure," Rand Merchant Bank currency trader John Cairns said in a market note.
"It seems that large inflows and a rand positive bias might remain as long as expectations remain that the Fed will hike only late in the year."
Friday's weaker-than-expected US jobs data had fuelled expectations that the Fed will postpone its first interest rate increase in nearly a decade, weakening the dollar.
In fixed income, the yield for the 2026 benchmark was flat at 7.675%.
Rand - Dollar
19.00
-0.5%
Rand - Pound
24.00
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.5%
Platinum
903.65
+0.8%
Palladium
1,016.75
+1.5%
Gold
2,210.49
+0.7%
Silver
24.61
-0.1%
Brent Crude
86.09
-0.2%
Top 40
68,275
+0.9%
All Share
74,459
+0.7%
Resource 10
57,075
+2.5%
Industrial 25
103,782
+0.5%
Financial 15
16,515
-0.1%
All JSE data delayed by at least 15 minutes
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