JOHANNESBURG – The South African rand saw a slight change in the early trade on Wednesday as investors awaited the U.S. Federal Reserve’s rate decision, which could signal the end of its tightening cycle.
At 0613 GMT, the rand traded at 17.4050 against the U.S. dollar, not far from its previous close of 17.3900.
Local investors will be watching the monthly Absa Purchasing Managers’ Index for domestic manufacturing activity and vehicle sales data for clues on the health of the economy.
The dollar index, which measures the currency against six rivals, was down 0.06% at 102.050.
The government’s benchmark 2030 bond was stronger in early deals, with the yield down 1.5 basis points to 9.660%.
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