Rand gains in early trade

Monday, 05 June 2017, 10:45
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Rand gains in early trade
South Africa’s rand gained in early trade on Monday.
BUSINESS NEWS - South Africa’s rand gained in early trade on Monday on improved appetite for riskier assets while stock futures pointed to a slightly lower open on the main bourse.

At 0650 GMT, the rand traded at R12.7600 per dollar, 0.43% stronger than its Friday close. Last week’s low of R12.79/$ offers support.

Fitch and S&P kept South Africa’s sovereign rating unchanged last week. Moody’s decision is expected on Friday.

Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.22%.

In fixed income, the yield for the benchmark government bond due in 2026 was 2 basis points lower to 8.43%.
 

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