Johannesburg - The rand steadied versus the dollar after pushing firmer than the R12.00 mark overnight, helped by a stronger euro after the Federal Reserve signalled last week that US rates would rise very gradually.
A less aggressive than expected policy tightening cycle by the Fed would boost high-yielding emerging currencies such as the rand, even as South African Reserve Bank is expected to keep its key repo rate unchanged on Thursday.
At 06:43 GMT, the rand traded at R11.9200 against the greenback, barely moved from Monday's New York close at R11.9080.