The rand was weaker in early trade on Monday as the US dollar rose in global markets.

In a light week for domestic economic data, analysts say the rand is likely to take cues from global factors such as the outlook for US monetary policy.

At 0610 GMT, the rand was trading at 16.25 rand per dollar, down more than 0.3% from its previous close.

The dollar rose about 0.1% against a basket of currencies as traders mixed dovish comments from Federal Reserve officials with signs that U.S. inflation may have peaked.

Wednesday’s Fed minutes will be closely watched for further clues about the trajectory of US interest rates.

Also on Wednesday are South African retail sales figures for June shed more light on economic performance in the second quarter.

Source by [author_name]

Previous articleChelsea’s Tuchel blames referee and VAR after Spurs draw – SABC News
Next articleUPDATED DStv Premier League log after a dreadful weekend for the Soweto giants