Rand softer on com­modi­ties de­cline

The Star Early Edition - - MARKETS -

THE RAND weak­ened against the dol­lar yes­ter­day amid a re­treat in com­mod­ity prices and as the green­back was buoyed by ex­pec­ta­tions for higher US in­fla­tion and growth.

At 5pm, the rand was bid at R13.3402 to the dol­lar, 4.57c softer than at the same time on Wed­nes­day.

“The dol­lar has re­bounded against all the ma­jors and com­modi­ties are down. Gen­er­ally ev­ery­thing is un­der pres­sure a lit­tle bit against the dol­lar to­day,” Wichard Cil­liers, Trea­sury One chief cur­rency dealer, said yes­ter­day.

The dol­lar in­dex, which mea­sures the green­back against a bas­ket of six other ma­jor cur­ren­cies, was up 0.45 per­cent at 100.48 points.

Gov­ern­ment bonds weak­ened along­side the cur­rency, and the yield for the bench­mark due in 2026 rose.

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