25 Jul

South Africa’s rand steadies, stocks set to open flat

JOHANNESBURG, July 25  – South Africa’s rand steadied early on Tuesday after falling the previous day, having failed to break through technical resistance at around 12.8500 against the dollar.

* At 0645 GMT, the rand traded at 12.9600 per dollar, unchanged from its overnight close.

* Stocks were set to open flat at 0700 GMT, with the JSE securities exchange’s Top-40 futures index largely unchanged.

* In fixed income, the yield on the benchmark government bond due in 2026 fell 3.8 basis points to 8.507 percent.

[via Reuters]