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Rand flat, market lacks drivers

At 1555 GMT the local unit traded at 10,6925 against the greenback.

The South African rand was flat against the dollar for most of Wednesday. Picture: Craig Wynn/EWN.

JOHANNESBURG - The rand was flat against the dollar for most of Wednesday's session, reflecting a dearth of local economic data and news to direct the market.

Investors are keeping an eye on ongoing efforts to end a wage strike by the National Union of Metalworkers of South Africa that has entered its second week.

At 1555 GMT the local unit traded at 10,6925 against the greenback, just a whisker away from Tuesday's close of 10,6835.

Government bonds extended the previous day's gains, with the yield for the instrument maturing in 2026, dipping 3,5 basis points to 8,3 percent. The shorter-dated 2015 issue was down 3 basis points to 6,68 percent.