Rand strengthens against dollar

The rand strengthened in early trade on Thursday as some risk appetite returned to markets ahead of U.S. jobs data that could give clues on the Federal Reserve’s interest rate trajectory.

At 09:32 the rand was at R17.78 against the dollar.

The dollar index, which measures the currency against six major rivals, was last trading up 0.1% at 110.98.

The South African government’s benchmark 2030 bond was up in early deals, with the yield down 4.5 basis points to 10.670%.

The US Labour Department’s closely watched non-farm payrolls data is due on Friday.