Rand little changed as caution reigns on global markets

The rand was steady in early trade on Thursday, as caution reigned on global financial markets before a barrage of central bank meetings in the coming weeks.

At, 08:34 the rand traded at R18.15 against the US dollar.

The rand has mainly tracked global drivers this week, reacting little on Wednesday to March inflation readings that came in higher than expected and February retail sales that were worse than forecast.

No major domestic economic data releases are due on Thursday.

The dollar was also little changed against a basket of currencies.