The dollar last traded about 0.1% stronger against a basket of currencies as traders pondered the ramifications of U.S. President Donald Trump's tariff plans. Picture: Karen Sandison/ Independent Newspapers.
South Africa's rand slipped on Monday, ahead of a week packed with domestic and international data releases, with eyes set on interest rate decisions from the Federal Reserve and the South African Reserve Bank (SARB).
At 08:57, the rand traded at 18.50 against the dollar , about 0.5% weaker than its previous close.
The dollar last traded about 0.1% stronger against a basket of currencies as traders pondered the ramifications of U.S. President Donald Trump's tariff plans.
Global investor focus will be on the Fed this week, which will conclude its two-day meeting on Wednesday. It is widely expected to hold interest rates steady.
Domestic investors will then shift their attention towards the SARB's first interest rate decision for 2025 on Thursday. Economists polled by Reuters estimate a 25 basis point cut to 7.50%.
"Despite soft inflation, uncertainties around fiscal policy, Eskom tariff hikes, and Trump's global economic stance could push the SARB to adopt a cautious approach," said Andre Cilliers, currency strategist at TreasuryONE.
South Africa's benchmark 2030 government bond was weaker in early deals, with the yield up 6.5 basis points to 9.045%.
Reuters