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Johannesburg - The rand was steady against the dollar on Monday and should largely hold its own as global sentiment favours high-yielding emerging market assets.
The market has priced in a "no change" stance on domestic interest rates when the SA Reserve Bank concludes its last policy meeting of the year this week.
By 09:00 the rand was trading at R10.1600/$, the same level where it closed on Friday in New York.
"Risk trades are re-establishing themselves as investor sentiment improves across the major trading regions," Tradition Analytics said in a note to clients.
Emerging market currencies have benefited from statements from the US Federal Reserve suggesting it will maintain stimulus for the world's largest economy, keeping emerging markets well supplied with cheap dollars.
Government bonds were not far off last week's closing levels on Monday, with the yield for the benchmark instrument due in 2026 adding two basis points to 8.115%.
The 2015 bond was up 2.5 basis points to 6.055%.
The market has priced in a "no change" stance on domestic interest rates when the SA Reserve Bank concludes its last policy meeting of the year this week.
By 09:00 the rand was trading at R10.1600/$, the same level where it closed on Friday in New York.
"Risk trades are re-establishing themselves as investor sentiment improves across the major trading regions," Tradition Analytics said in a note to clients.
Emerging market currencies have benefited from statements from the US Federal Reserve suggesting it will maintain stimulus for the world's largest economy, keeping emerging markets well supplied with cheap dollars.
Government bonds were not far off last week's closing levels on Monday, with the yield for the benchmark instrument due in 2026 adding two basis points to 8.115%.
The 2015 bond was up 2.5 basis points to 6.055%.
