Rand holds steady ahead of factory data
The South African rand held steady in early trade ahead of domestic manufacturing data release. A muted US dollar provided support as investors assessed potential Federal Reserve rate hikes.
Insights:
The South Africa rand held steady at 16.64 per dollar in Thursday morning trade ahead of key manufacturing data. The currency remained little changed from its previous close of 16.63. Traders weighed domestic output figures against a subdued greenback as the United States Federal Reserve mulls further monetary tightening.
