South Africa’s rand flat in early trade

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The Rand, South African Currency.

The South African rand was flat against the dollar in early trade on Friday as volumes thinned out in a holiday-shortened week, while the market focus remained on U.S.-China trade deal developments.

The rand was flat at 14.1320 versus the greenback by 0653 GMT.
Overall trading activity was mostly subdued with global currency markets in a holiday mood after Christmas Day on Wednesday.

Traders returned from their Christmas and Boxing Day break to digest comments from Beijing that it was in close contact with Washington about an initial trade agreement, shortly after U.S. President Donald Trump talked up a signing ceremony for the recently struck Phase 1 trade deal.

In fixed income, bonds were slightly stronger with the yield on the benchmark government paper due in 2026 was down 0.03 at 8.195%.

Peace PIAK

 

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