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Rand firmer; focus on CPI, current account data

The rand firmed slightly early on Monday, pulling away from a six-month low hit in the previous session, with investor focus on consumer price inflation and current account data due later in the week.

Picture: EWN

JOHANNESBURG - The rand firmed slightly early on Monday, pulling away from a six-month low hit in the previous session, with investor focus on consumer price inflation and current account data due later in the week.

At 0633 GMT, the rand traded at R13.4050 per dollar, 0.22% firmer than its close on Friday.

The currency hit a six-month low of R13.4975 on Friday as global trade war fears rattled emerging markets, while locally the country suffered power outages as workers protested over wages at national electricity provider Eskom.

Statistics South Africa publishes May CPI figures on Wednesday and the central bank will release first-quarter current account numbers on Thursday.

In fixed income, the yield for the benchmark government bond due in 2026 was down one basis point to 9.005%.

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