Rand under pressure on Wednesday

The rand weakened early on Wednesday, in line with falls in local bonds, amid subdued investor appetite for riskier assets.

At 0705 GMT, the rand traded 0.45% weaker at 14.66 per dollar, having closed in New York at 14.59.

The currency is expected to trade in a range of 14.50 to 14.80 to the dollar on Wednesday, NKC African Economics said in a note.

South Africa-focused investors were awaiting the release of data on the September trade balance, due at 1200 GMT. The balance swung to a surplus of R8.8 billion in August.

In fixed income, the yield on the benchmark government bond due in 2026 rose 0.5 basis point to 9.285%, reflecting weaker bond prices.