South Africa's rand firmer on bets U.S. rates won't rise soon - CNBC Africa

South Africa's rand firmer on bets U.S. rates won't rise soon

Financial

by Reuters 0

South Africa's rand firmer on bets U.S. rates won't rise soon. Photo: Wikimedia.

South Africa's rand ticked higher against the dollar on Thursday, after overnight comments from the Federal Reserve left some investors speculating that U.S. rates might not rise this year.

* At 0700 GMT the rand up 0.34 percent to 14.2090 compared with Wednesday's New York close.

* Federal Reserve stops short of signalling a near-term rate rise. 

* Rand caught in 14.2-14.5 range, could next target 14.1700/dollar.

* Local bourse opens mostly flat; blue chip stock index down 0.22 percent, all-share dips 0.05 percent.

* Government bonds gain, yield on 2026 benchmark down 4 basis points to 8.71 percent.

 

(Reporting by Stella Mapenzauswa; Editing by Joe Brock)

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