Traders said a fairly run-of-the-mill state of the nation speech to Parliament over-night by President
Government bonds edged higher after the previous day's losses, with the yield for the 2026 benchmark shaving off 1.5 basis points to 8.75 percent and the 2015 bond dipping half a basis point to 7.16 percent.
The rand was at 11.0200 to the dollar at
The rand has under-performed against most of its emerging market peers this year because of wide fiscal and current account deficits which make it vulnerable during bouts of global risk aversion.
Market players said the rand could today track fellow emerging market struggler the Turkish lira, which remained vulnerable after the country reported a wider current account deficit yesterday.
Both countries are among the "fragile five" emerging market economies seen most vulnerable to a reduction of US monetary stimulus which has been a key source of portfolio flows into the region.
"Fragile five concerns have yet to abate, as reflected in
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