The rand was at 10.8580 to the dollar at
Upbeat Chinese data lifted sentiment towards emerging markets, with data showing banks last month disbursed the highest volume of loans of any month in four years. The surge suggests the world's second-biggest economy may not be cooling as much as feared.
"Dollar/rand has pushed as far as 10.85 and has some scope for further mild downside this morning. The primary driver remains dollar weakness but what is much more important is the slow return of investor confidence in emerging markets,"
"Expect the rand to continue this stop-start rally unless we get another major EM shock."
The yield on the 2026 government bond dropped 1 basis point to 8.655 percent as did that on the 2015 paper which was yielding 7.13 percent. - Reuters
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