Rand steady vs the dollar, bond yields mixed
JOHANNESBURG (Reuters) – The rand held steady against the dollar on Monday ahead of major economic data releases locally and abroad, with the market keeping a keen eye on South African and U.S. consumer inflation numbers later in the week.
The local unit edged 0.01 percent firmer, to 10.5900 versus the greenback by 0642 GMT, just shy of the 10.6000 mark.
"If the local unit fails to breach technical resistance barriers soon we may see some profit taking."
U.S. inflation figures for July due out on Tuesday are expected to give rand trading some direction, with the Federal Reserve policy outlook providing insight into when the world's largest economy will conclude its massive bond-buying programme.
Yields on benchmark government bonds were mixed. The yield on the paper due in 2015 lost 0.5 basis points to 6.61 percent, while the yield on the 2026 paper ticked up 1.5 basis points to 8.285 percent.