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Johannesburg - The rand was steady against the dollar on Wednesday, amid hesitant trading before the release of January consumer inflation data.
The rand was at R10.8750 to the dollar at 06:14 GMT, in line with Tuesday's New York close, after retreating from a near one-month high of R10.8190 hit earlier in the week.
Economists polled by Reuters expect inflation to accelerate to 5.7% year-on-year in January, from 5.4% in December.
"Given that we think that the risk lies in an above-consensus reading, we maintain that on balance a buoyant CPI reading should be rand positive from a real interest rate differential," Absa Capital analysts wrote in a note.
The yield on the 2026 government bond inched up 1.5 basis points to 8.61%, while that on the 2015 paper was 1 basis point higher at 7.16%.
The rand was at R10.8750 to the dollar at 06:14 GMT, in line with Tuesday's New York close, after retreating from a near one-month high of R10.8190 hit earlier in the week.
Economists polled by Reuters expect inflation to accelerate to 5.7% year-on-year in January, from 5.4% in December.
"Given that we think that the risk lies in an above-consensus reading, we maintain that on balance a buoyant CPI reading should be rand positive from a real interest rate differential," Absa Capital analysts wrote in a note.
The yield on the 2026 government bond inched up 1.5 basis points to 8.61%, while that on the 2015 paper was 1 basis point higher at 7.16%.
