• Inside Labour

    Terry Bell explores the connection between poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

Rand steady against dollar, awaits CPI

Dec 12 2012 10:01
Reuters

Johannesburg - The rand was steady against the dollar on Wednesday ahead of domestic inflation data as markets also await the Federal Reserve's policy meeting announcement. 

At 07:30 GMT the rand was little changed at R8.6535 against the greenback after ending Tuesday's New York session at R8.6551. 

Consumer price inflation figures are due at 08:00 GMT, with economists expecting year-on-year inflation to have remained steady at 5.6% in November. 

A higher number could raise the prospect of monetary tightening next year which could be supportive of the currency while inflation on the downside would raise hopes that rates could be cut again, which might push the currency weaker. 

"The rand remains relatively range bound, it had that initial rally and then after that we've seen the rand actually supported around R8.60," said Brigid Taylor, head of institutional sales at Nedbank. 

Government bonds edged up in early trade, with yields down a single basis point on the benchmark 14-year bond to 7.31% and the three-year issue, which was at 5.425%.   

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

bonds  |  rand  |  markets

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...