Publications
Partners
The rand was at R10.290/$ at 08:54, up nearly 0.3% from Wednesday's New York close, extending a recovery from a new four-year low of R10.510 reached on Wednesday.
Emerging market currencies have been hit in recent days on concerns of possible Western military action in , which has pushed investors towards safe-haven currencies like the US dollar and Swiss franc.
Expectations that the US Federal Reserve could begin tapering its bond purchases as early as next month have also led to a flight from risky assets.
"Although we are not surprised that rand bulls have locked in some profits, given the pace and magnitude of the latest bout of weakness, we think the rand remains vulnerable," Absa Capital analysts wrote in a morning note.
The South African economy budget and current account deficits have increased the country's vulnerability to outflows while a wave of strikes in the car manufacturing, construction and transport sectors has hurt investor confidence.
Labour unrest is set to intensify as a work stoppage by gold miners could start as early as Sunday, while workers at petrol stations and car dealerships plan to go on strike on Monday.
Statistics is due to release producer price inflation data for July at 11:30. Trade data for July is also expected on Friday.
Government bonds were flat, with the 2026 and 2015 issues yielding 8.53% and 6.59% respectively.
