Rand holds steady ahead of PMI data
The South African rand traded little changed against a softer dollar in early deals as investors awaited the latest private-sector purchasing managers index data for clues on domestic business conditions.
Insights:
The South Africa rand held steady in Thursday morning trade at 16.04 against the dollar. The currency found support from a softer greenback as investors braced for key labor data from the United States economy. Markets are awaiting the release of the S&P Global whole-economy PMI to gauge domestic business conditions.
