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Johannesburg - The rand recovered some of its poise against the dollar on Thursday after retreating sharply overnight when the US Federal Reserve surprised global markets with a fairly hawkish policy statement.
Traders awaited the latest unemployment and producer inflation numbers, and the outcome of the central bank conference on inflation targeting for a steer on whether domestic interest rates might increase next month.
The rand was at R10.9470 against the dollar at 08:38, barely moved from where it ended Wednesday's session in New York.
READ: Fed halts bond-buying, keeps rates near zero
Government bonds weakened in early trade, with the yield for the instrument maturing in 2026 - the benchmark for the secondary market - adding 4 basis points to 7.935%.
The local unit pulled back from a seven-week high of R10.8240 overnight after the Fed came out with an unexpectedly hawkish policy tone and conveyed its confidence in the US economic recovery, boosting the greenback.
"Early trade today will remain dominated by reaction to the Fed. Mid-day risks come from the eurozone economic sentiment index figures," RMB currency analyst John Cairns said.
Traders awaited the latest unemployment and producer inflation numbers, and the outcome of the central bank conference on inflation targeting for a steer on whether domestic interest rates might increase next month.
The rand was at R10.9470 against the dollar at 08:38, barely moved from where it ended Wednesday's session in New York.
READ: Fed halts bond-buying, keeps rates near zero
Government bonds weakened in early trade, with the yield for the instrument maturing in 2026 - the benchmark for the secondary market - adding 4 basis points to 7.935%.
The local unit pulled back from a seven-week high of R10.8240 overnight after the Fed came out with an unexpectedly hawkish policy tone and conveyed its confidence in the US economic recovery, boosting the greenback.
"Early trade today will remain dominated by reaction to the Fed. Mid-day risks come from the eurozone economic sentiment index figures," RMB currency analyst John Cairns said.
