South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File Photo
JOHANNESBURG, June 19 - South Africa's rand and stocks weakened in early trade on Monday, as the U.S. dollarAt 0720 GMT, the rand traded at 18.2200 against the dollar , 0.16% weaker than its previous close. The dollar index , which measures the U.S. currency against six major rivals, rose around 0.07% to 102.37, not far from a one-month low of 102.00 it touched on Friday.
"This morning, the dollar is a little firmer and that will prevent the rand from making back any more ground," economists at ETM Analytics said in a research note. However, they added that the rand showed a very impressive performance in June, reversing the losses suffered in May.On the stock market, the Top-40