South African Rand Holds Steady Ahead of Data
The South African rand remained steady in early trade on Tuesday as markets awaited local manufacturing PMI and vehicle sales figures for August. Economists expect manufacturing to stay in contraction territory amid lingering global uncertainties.
Insights:
The South Africa rand held steady in early trade on Tuesday ahead of key August manufacturing and vehicle sales data. The currency traded at 16.1008 against the dollar, little changed from its previous close of 16.1049. Markets are bracing for new readings on industrial health in the continent's most industrialized economy.
