Rand regains some strength

Rand regains some strengthGreenback loses some allure among traders It is still uncertain as to whether the US Federal Reserve will raise interest rates later this year, a situation that might weaken the rand. The rand traded firmer early on Thursday, boosted by a weaker dollar weighed down by disappointing economic data and waning bets that president Donald Trump's fiscal stimulus plans will pass the post. Moves have mostly been determined by offshore factors with a lull in local political ructions and a dearth of economic data.

The dollar index slipped to its weakest level since October as investors reassessed estimations of the pace of interest-rate hikes and growth in the world's number one economy. A recent batch of mixed economic data, including softer-than-expected house price figures on Wednesday, have dampened the lure of the greenback and previous bets that the Federal Reserve will lift rates further this year. Local bonds were firmer, with the yield on the benchmark government issue due in 2026 down 2 basis points to 8.64%



NAMPA/REUTERS