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Rand steady ahead of Q2 unemployment data

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The rand was steady in early trade on Tuesday ahead of second-quarter unemployment data that could give clues on the health of the local economy.

At 08:07, the rand traded at R16.99 against the dollar.

Investors will be looking at second-quarter unemployment and a leading business cycle indicator due later in the day.

The dollar index, which measures the US currency against six rivals, was trading up at 109.12, attempting to breach a two-decade high of 109.29 hit in July as investors embraced the safe-haven currency amid broader economic growth concerns.

The South African government’s benchmark 2030 bond was little changed in early deals, with the yield down 1 basis point to 10.305%.

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