Rand firms vs dollar as risk sentiment improves

The rand firmed in early trade on Thursday, as the US dollar softened due to a pickup in risk sentiment.

At 08:56, the rand traded at R17.12 against the dollar.

“It is important to note that the dollar has come under significant pressure,” ETM Analystics said in a research note, suggesting it is over-valued and has a lot further to depreciate.

The government’s benchmark 2030 bond was slightly stronger in early deals, with the yield down 2 basis points to 10.190%.