Rand slips against dollar

Connie Queline

Rand slips against dollar

The rand slipped early on Wednesday and was set to take cues from the dollar in the absence of major economic data releases.

At 0710 GMT, the rand traded at R19.16 against the dollar.

The dollar index was last trading up 0.16% against a basket of currencies.

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The rand, like most emerging market currencies, takes direction from the dollar when there are no clear domestic indicators.

South African investors will turn their focus towards a slew of economic data releases on Thursday with money supply, producer price inflation, trade and budget balance figures due.

On the stock market, the Top 40 index was down 0.6% while the broader all-share was 0.5% weaker in early trade.

South Africa’s benchmark 2030 government bond was weaker in early deals, with the yield up 2 basis points to 10.220%.

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