Rand gains as weak US data lifts emerging markets

iStock

Johannesburg - The rand strengthened against the dollar on Friday, as investors pushed back bets on a rate hike by the Federal Reserve next week after a set of weak data from the US.

At 08:50, the rand had gained 0.6% to R14.1500/$, compared to overnight close at R14.2350/$.

Expectations of a Fed rate hike at next week's meeting dimmed after US retail and industrial disappointed.

Anticipation of continued monetary stimulus by European Central Bank also boosted emerging currencies.

In bonds, the yield for the benchmark government issue duein 2026 cut 4 basis points to 8.655%.

ZAR/USD
16.75
(+0.16)
ZAR/GBP
21.02
(+0.43)
ZAR/EUR
19.11
(-0.15)
ZAR/AUD
11.68
(-0.08)
ZAR/JPY
0.16
(+0.32)
Gold
1807.54
(+0.30)
Silver
19.18
(+0.41)
Platinum
824.00
(-0.24)
Brent Crude
42.17
(-1.20)
Palladium
1949.99
(-0.03)
All Share
55541.44
(-1.17)
Top 40
51241.05
(-1.22)
Financial 15
10551.64
(-1.42)
Industrial 25
75413.44
(-1.95)
Resource 10
53291.59
(-0.07)
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