S.African rand eases, seen range bound ahead of Fed - CNBC Africa

S.African rand eases, seen range bound ahead of Fed

Financial

by Reuters 0

PHOTO: Wikipedia

South Africa's rand weakened against the dollar in early Monday trade, as recent U.S. economic data boosted the possibility of the Federal Reserve lifting rates this year.

* Rand down 0.23 percent at 14.3325 by 0643 GMT, compared with Friday's close at 14.3460.

* Blue chip Top-40 futures index edges up 0.18 percent, indicating bourse will open slightly firmer at 0700 GMT.

* Government bonds up slightly, and yield on debt maturing in 2026, the secondary market benchmark, dips a basis point to 8.8 percent.

* Traders see rand in limbo within 14.20-14.50 range ahead of Wednesday Fed statement.

 

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