Publications
Partners
Johannesburg - The rand was largely steady against the dollar early on Tuesday with ongoing US debt ceiling negotiations the main driver of sentiment in the absence of market-moving domestic news.
At 08:43, the rand was trading at R9.9230 to the greenback, barely moved from Monday's close in New York at R9.9150. It was down 0.6% at R13.4581/€.
"Developments out of the US are still driving the markets and as reports circulated overnight that the US Senate is near a deal to raise the debt ceiling ... the dollar is opening the day slightly stronger," Standard Bank trader Jan de Fouw said in a market note.
In fixed income, government bond yields edged higher across the curve, with the 2026 secondary market benchmark up 2.5 basis points at 7.955% while the shorter-dated 2015 instrument added half a basis point to 5.91%.
At 08:43, the rand was trading at R9.9230 to the greenback, barely moved from Monday's close in New York at R9.9150. It was down 0.6% at R13.4581/€.
"Developments out of the US are still driving the markets and as reports circulated overnight that the US Senate is near a deal to raise the debt ceiling ... the dollar is opening the day slightly stronger," Standard Bank trader Jan de Fouw said in a market note.
In fixed income, government bond yields edged higher across the curve, with the 2026 secondary market benchmark up 2.5 basis points at 7.955% while the shorter-dated 2015 instrument added half a basis point to 5.91%.
