Rand holds steady on soft producer inflation
The South African rand traded little changed against a firmer dollar as cooler-than-expected domestic producer inflation data offered support. Producer inflation slowed to 5.7 percent year-on-year in July.
Insights:
The South Africa rand held steady against a firmer dollar on Thursday afternoon as cooler domestic producer inflation offset global currency pressures. The currency traded at 15.98 against the dollar, remaining near its previous close. Emerging market currencies face fresh direction as global investors track international policy signals.
