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Rand slips as markets await US jobs data

Johannesburg - The rand weakened against the dollar in thin trade early on Friday as investors positioned for a US jobs report that is likely to provide clues about the Federal Reserve's monetary policy intentions.

At 09:05, the rand traded at R15.0550/$, 0.6% weaker from Thursday's New York close.

"Trade remains jittery and liquidity thin, so it is not going to take much to send the market running again," Rand Merchant Bank analyst John Cairns said in a note.

"...The monthly (payrolls) release no longer has the importance that it had a year back but still remains the single most important global economic indicator for the markets."

A strong number could encourage the Fed to raise rates sooner, lending some support to the dollar.

On the stock market, the Top 40 index was down 0.67%, while the broader All-share fell 0.44%.

In fixed income, the yield for the benchmark government bond due in 2026 was up 1 basis point at 9.195%.

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Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,016.25
+1.4%
Gold
2,221.48
+1.2%
Silver
24.88
+1.0%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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