Johannesburg - The rand gave back some of the strong gains notched overnight after a more dovish than expected statement from the Federal Reserve, with volatile trade likely as investors speculated on the outlook for US interest rates.
At 09:03 the rand traded at R12.1190 to the dollar, down 0.34% from where it closed on Wednesday in New York.
The yield on the benchmark government bond maturing in 2026 was unchanged at 7.89%.