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Rand trades sideways ahead of GDP data

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Investor concerns over the state company, and overall economic growth, have seen the rand struggle to shake-off an emerging-market selloff that has abated in other regions, while elections due in May have also kept money on the sidelines.

JOHANNESBURG - The rand weakened slightly early on Tuesday after some broad emerging-market momentum overnight faded with the dollar remaining close to a two-week high and investor caution ahead of local economic growth data.

Africa’s most developed economy grew 1.3% in 2017 and saw contractions in the first two quarters of 2018 before bouncing back in the third quarter with a 2.2% expansion.

 

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#RandReport: Rand edges higher, stocks flatAt 1515 GMT, the rand was 0.1% firmer at 14.2175 per dollar compared with a close of 14.2300 on Friday in New York.
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