Share

Rand gains in risk-on trade

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%.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
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 Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders