South Africa's rand firmer, stocks set to open flat
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South Africa's rand firmer, stocks set to open flat
Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg
JOHANNESBURG (Reuters) - South Africa's rand firmed in early trade on Tuesday as the dollar retreated from recent highs ahead of U.S. President-elect Donald Trump's news conference on Wednesday.

* At 0640 GMT, the rand was at 13.6300 per dollar, 0.33percent firmer from its New York close on Monday. * The dollar was 0.23 percent lower against a basket of sixmajor peers, at 101.700, pulling further away from last week'shigh of 103.82, which was its highest since 2002. * With little on the domestic calendar to inspire moves ineither direction, investors to look offshore for direction. * Trump, who takes office on Jan. 20, is scheduled to holdhis first news conference on Wednesday since winning theNovember election. * Stocks were set to open flat at 0700 GMT, with the JSEsecurities exchange's Top-40 futures index barely changed. * In fixed income, the yield for the benchmark governmentbond due in 2026 was flat at 8.79 percent.
(Reporting by Olivia Kumwenda-Mtambo; Editing by Subhranshu Sahu)

2017-01-10 09:44:16

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