JOHANNESBURG, March 22 Reuters South Africa39;s rand weakened in early trade on Friday, in line with other emerging market currencies as the U.S. dollar gained on global risk sentiment.

At 0745 GMT, the rand traded at 18.9700 against the dollar , about 0.7 weaker than its previous close.

The dollar was up almost 0.3 against a basket of global currencies, and set for a second week of gains.

The dollar reversed all of Wednesday39;s postFOMC losses yesterday after the Swiss National Bank surprised markets by cutting its benchmark rate by 25 basis points, and U.S. economic data surprised to the top side, said Andre Cilliers, Currency Strategist at TreasuryONE.

There was further support for the dollar from a dovish Bank of England outlook, he said in a research note.

Trade was expected to be thin on Friday, since Thursday was a public holiday in South Africa. There were no economic data releases due.

On the stock market, the Top40 index was up 0.86 while the broader allshare was up 0.82 in early trade.

South Africa39;s benchmark 2030 government bond was weaker in early deals, with the yield up 1 basis point to 10.435.

Reporting by Nellie Peyton; Editing by Toby Chopra

Source Reuters