Rand steady ahead of trade, PPI data

The rand held firm against the dollar early on Thursday, building on its previous-session strength ahead of trade and producer price inflation figures.

At 06:46 the rand was trading at 12.5200 to the dollar.

The rand rallied on Wednesday as the greenback lost gains after lower-than-expected US GDP numbers and an ease in worries about Italy’s political turmoil.

Producer Price Inflation figures for April and trade balance data are due at 09:30 GMT and 12:00 GMT respectively.

The yield on the benchmark government bond due in 2026 was down 3.5 basis points to 8.505%.

The Johannesburg Stock Exchange opened firmly on the front foot, with the Top-40 index up 1% soon after the bell. 

Source: moneyweb.co.za