South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration
South Africa's rand was flat on Thursday, as investors waited for direction from global drivers including U.S. jobless numbers and the outcome of a European Central Bank meeting.
At 0548 GMT, the rand traded at 14.2600 versus the dollar, 0.07% weaker than its New York close on Wednesday, with analysts saying it was stuck in a narrow trading range for now.
"The global backdrop remains uneventful, with markets waiting for new events to provide them with direction," said Bianca Botes, executive director of Citadel Global.
She pointed to an upcoming interest rate decision from the European Central Bank and U.S. jobless claims as two factors that could drive markets later on Thursday.
The rand tends to be led mostly by global factors, with local events having a smaller impact. Analysts noted on Wednesday that even an uptick in local inflation had little effect on the currency. read more
Government bonds were also unchanged, with the yield on the instrument due in 2030 flat at 9.090%.
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April 22, 2021 at 03:04PM
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S.Africa's rand flat as markets wait for global cues - Reuters
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