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Johannesburg - The rand was largely flat against the dollar on Tuesday as trading resumed after the Easter holiday, with the platinum sector strike that has dragged on for months as well as political turmoil in Ukraine posing downward risks for the currency.
By 08:50 the rand was quoted at R10.5125 per dollar, slightly down from its previous close at R10.5090.
"The rand is still exhibiting a weaker bias, due to the uncertainty surrounding Ukraine, as well as yesterday’s stronger-than-expected US leading indicator report," Barclays Africa said in a market note.
The dollar was stronger against a basket of major currencies following a subdued session overnight with many global financial centres shut for the Easter long weekend.
On the local front, investors are likely to be focused on talks to end union Amcu's three-month wage strike - which has hit 40% of global platinum output - after producers made a new wage offer on Thursday.
In fixed income, government bonds were slightly weaker, with yields for the 2026 and 2015 benchmarks each adding one basis point to 8.385% and 6.725% respectively.
By 08:50 the rand was quoted at R10.5125 per dollar, slightly down from its previous close at R10.5090.
"The rand is still exhibiting a weaker bias, due to the uncertainty surrounding Ukraine, as well as yesterday’s stronger-than-expected US leading indicator report," Barclays Africa said in a market note.
The dollar was stronger against a basket of major currencies following a subdued session overnight with many global financial centres shut for the Easter long weekend.
On the local front, investors are likely to be focused on talks to end union Amcu's three-month wage strike - which has hit 40% of global platinum output - after producers made a new wage offer on Thursday.
In fixed income, government bonds were slightly weaker, with yields for the 2026 and 2015 benchmarks each adding one basis point to 8.385% and 6.725% respectively.
