JOHANNESBURG, July 10 Reuters The South African rand drifted lower against the dollar in early trade on Monday, at the start of a week in which local manufacturing and mining data will be released.

Analysts cited U.S. consumer inflation data on Wednesday as potentially a crucial driver for the rand.

From a multidayweek perspective, the dollarrand exchange rate is in no man39;s land … and looking for direction from U.S. CPI, Rand Merchant Bank analysts said in a research note.

At 0610 GMT, the rand traded at 18.8850 against the dollar , around 0.1 weaker than its previous close.

Like other emerging market currencies, the risksensitive often takes cues from big global drivers when there is little going on locally.

Statistics South Africa will release May manufacturing output on Tuesday and mining figures on Thursday.

South Africa39;s benchmark 2030 government bond was flat early on Monday, the yield at 10.770.

Reporting by Tannur Anders Editing by Alexander Winning

Source Reuters

Leave A Comment