South African rand flat as uncertainty over Middle East conflict hangs over markets
JOHANNESBURG, June 20 (Reuters) – The South African rand was trading almost flat early on Friday, as investors worried about conflict in the Middle East, with Israel and Iran’s air war entering a second week and a decision on potential U.S. involvement.
At 0649 GMT the rand traded at 18.0250 against the dollar, little changed from Thursday’s close.
The U.S. also traded flat against a basket of currencies with investors in limbo after the White House said on Thursday that Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war.
No major domestic data releases are due on Friday but domestically, investors will look to producer inflation and leading indicator data set to be released next week, to gauge the health of Africa’s most industrialised economy.
South Africa’s benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 2 basis points to 10.12%.
(Reporting by Sfundo Parakozov; Editing by Rachna Uppal)
