Rand races to firmest in a month vs dollar
But the rand strengthened for a third straight day to its firmest level since mid-September, 0.45 percent firmer on the day to 10.9725 per dollar at 1500 GMT, after weakening as far as 11.1995 in the previous week.
The rand, heading into a week when local data releases are likely to reveal an ailing economy, was aided by a dollar index that slid against a basket of major currencies, as investors held off until the Wednesday release of U.S. inflation data.
"There is always potential in these budget reviews for the short-term market impact to be suppressed by promises that are quite optimistic. The market, however, has become less lenient on that sort of trend," Mcalgan said.
Government bonds were firmer, with the yield on the benchmark paper due in 2026 shedding 6.5 basis points to 8.01 percent.