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Rand steady ahead of trade, PPI data

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.

Picture: Christa Eybers/EWN

JOHANNESBURG - 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 0646, the rand was trading at R12.5200 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 0930 GMT and 1200 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.

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