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Johannesburg - The rand weakened against the dollar on Monday, but remained within its recent tight range ahead of data releases later this week that could help give it direction.
The rand was at 10.7740 to the dollar at 15:23 GMT, down 0.4% from Friday's New York close. It traded within a R10.7140/$ to R10.7850/$ range throughout the session.
"It's been exceptionally rangebound. The markets will continue to look towards the situation in Ukraine and Russia to provide some sort of catalyst in the emerging markets space," said Nedbank FX trader William Van Rijn.
"From a South Africa perspective, we have a few significant data releases which could provide some sort of catalyst for activity."
On Wednesday, the Reserve Bank will release its quarterly bulletin with current account and spending data for the fourth quarter of 2013, while manufacturing and mining output figures for January are expected on Thursday.
The yield on the 2026 government bond gained 3.5 basis points to 8.55% while that on the 2015 paper was edged up 2.5 basis points to 7.035%.
The rand was at 10.7740 to the dollar at 15:23 GMT, down 0.4% from Friday's New York close. It traded within a R10.7140/$ to R10.7850/$ range throughout the session.
"It's been exceptionally rangebound. The markets will continue to look towards the situation in Ukraine and Russia to provide some sort of catalyst in the emerging markets space," said Nedbank FX trader William Van Rijn.
"From a South Africa perspective, we have a few significant data releases which could provide some sort of catalyst for activity."
On Wednesday, the Reserve Bank will release its quarterly bulletin with current account and spending data for the fourth quarter of 2013, while manufacturing and mining output figures for January are expected on Thursday.
The yield on the 2026 government bond gained 3.5 basis points to 8.55% while that on the 2015 paper was edged up 2.5 basis points to 7.035%.
