JOHANNESBURG, Oct 5 Reuters The South African rand weakened in early trade on Thursday, giving up some earlier gains after U.S. Treasury yields slipped from 16year highs.

At 0728 GMT, the rand traded at 19.4200 against the dollar , about 0.4 weaker than its previous close.

The dollar last traded around 0.04 stronger against a basket of global currencies.

On Thursday, a plunge in oil prices and softer U.S. labour data helped pull Treasury yields off 16year peaks, weakening the dollar and giving some reprieve to emerging market currencies such as the rand in earlier trade.

The rand has already lost about 2.2 against the greenback this month.

Like other risksensitive currencies, the rand often takes cues from international factors like changes in U.S. yields, in the absence of major local data points.

On the Johannesburg Stock Exchange, the bluechip Top40 index last traded about 0.1 higher.

South Africa39;s benchmark 2030 government bond was stronger in early deals, with the yield down 3 basis points to 11.055.

Reporting by Tannur Anders, Editing by Bhargav Acharya and Bernadette Baum

Source Reuters