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Johannesburg - The rand was slightly weaker against the dollar on Wednesday while government bonds held firm ahead of inflation data at 10:00 expected to show that domestic price pressures are ticking higher.
The market is also looking ahead to Thursday's interest rate decision, with players pricing in the central bank keeping the benchmark repo rate unchanged at 5.5% as it balances rising inflation against an economy struggling to grow after a recession in 2009.
At 08:46 the rand traded at R6.9120 against the dollar, down 0.2% from Tuesday's close at R6.8980 in New York.
"Dollar/rand is currently pretty stable, there wasn't much to go on overnight. The range today is probably still R6.88 support and if that breaks there might be a little bit of acceleration to the downside. Topside is somewhere around R6.94/95," a Johannesburg trader said.
Government bonds edged higher, and inversely the yield on the 2015 note shed two basis points 7.815% while that on the 2026 note was down 1.5 basis points at 8.93%.
The JSE's blue-chip June stock futures contract was flat ahead of the 09:00 start of trade on the bourse, which closed a touch higher in line with global equities on Tuesday.
The market is also looking ahead to Thursday's interest rate decision, with players pricing in the central bank keeping the benchmark repo rate unchanged at 5.5% as it balances rising inflation against an economy struggling to grow after a recession in 2009.
At 08:46 the rand traded at R6.9120 against the dollar, down 0.2% from Tuesday's close at R6.8980 in New York.
"Dollar/rand is currently pretty stable, there wasn't much to go on overnight. The range today is probably still R6.88 support and if that breaks there might be a little bit of acceleration to the downside. Topside is somewhere around R6.94/95," a Johannesburg trader said.
Government bonds edged higher, and inversely the yield on the 2015 note shed two basis points 7.815% while that on the 2026 note was down 1.5 basis points at 8.93%.
The JSE's blue-chip June stock futures contract was flat ahead of the 09:00 start of trade on the bourse, which closed a touch higher in line with global equities on Tuesday.
