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Johannesburg - The rand was range-bound against the dollar on Wednesday, with a looming strike by platinum miners apparently priced in.
The rand was at R10.8525/$ at 15:13, nearly 0.3% lower than Tuesday's New York close.
The currency, which reached a five-year low last week, has traded at a range from R10.77/$ to R10.90/$ since the start of the week. A consumer inflation report released on Wednesday provided no big surprises that could push it out of that range.
South Africa's headline consumer inflation rate edged up to 5.4% year-on-year in December, slightly below market expectations, from 5.3% in November, Statistics South Africa said .
Members of the Association of Mineworkers and Construction Union (Amcu) plan to strike on Thursday at Anglo Platinum, Impala Platinum and Lonmin.
The stoppage could affect more than half of global platinum production.
"I'm not sure it's going to have much impact, if any. It will have been baked into it," said ETM's Gareth Brickman.
"Perhaps if there's more violence in the labour unrest, that could rattle investors a bit, if it appears those issues are going to be protracted."
Government bonds were mixed. The yield on the 2026 government bond inched up 1 basis point to 8.395%. Yield on 2015 paper declined 3.5 basis points to 6.265%.
The rand was at R10.8525/$ at 15:13, nearly 0.3% lower than Tuesday's New York close.
The currency, which reached a five-year low last week, has traded at a range from R10.77/$ to R10.90/$ since the start of the week. A consumer inflation report released on Wednesday provided no big surprises that could push it out of that range.
South Africa's headline consumer inflation rate edged up to 5.4% year-on-year in December, slightly below market expectations, from 5.3% in November, Statistics South Africa said .
Members of the Association of Mineworkers and Construction Union (Amcu) plan to strike on Thursday at Anglo Platinum, Impala Platinum and Lonmin.
The stoppage could affect more than half of global platinum production.
"I'm not sure it's going to have much impact, if any. It will have been baked into it," said ETM's Gareth Brickman.
"Perhaps if there's more violence in the labour unrest, that could rattle investors a bit, if it appears those issues are going to be protracted."
Government bonds were mixed. The yield on the 2026 government bond inched up 1 basis point to 8.395%. Yield on 2015 paper declined 3.5 basis points to 6.265%.
