South African rand weakens, expected to consolidate in R18.60/R18.85 range; dollar index up 0.06%.
On Monday, the South African rand edged lower, with currency strategist Andre Cilliers expecting it to consolidate in an R18.60/R18.85 trading range. The dollar index rose 0.06% against a basket of currencies. The rand was previously supported by gold prices, which have taken a pause ahead of a US inflation report. The South African 2030 government bond yield dropped 0.5 basis points to 10.105%.
March 11, 2024
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