South Africa rand softer heading into the weekend

South Africa rand softer heading into the weekend
JOHANNESBURG (Reuters) - South Africa's rand was slightly weaker on Friday against the dollar, which recovered as U.S. Treasury yields levelled off.

At 0638 GMT, the rand was 0.15 percent softer at 11.67/dlr.

Expected trading range for the rand 11.60/dlr-11.80/dlr

Government bonds were also weaker, with the yield on the benchmark instrument due in 2026 up 1.5 basis point to 8.05 percent.

The dollar index against a basket of six major currencies rose 0.24 percent to 89.947.

"Markets stable overnight but South African government bonds will be watching the UST yield ticking up slightly," analysts at Nedbank said in a note.

Stocks were set for a firm opening at 0700 GMT, with the JSE securities exchange's Top-40 futures index up 0.76 percent.

(Reporting by Nqobile Dludla; Editing by Robin Pomeroy)

2018-02-23 09:47:36

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