JOHANNESBURG, May 7 (Reuters) – The South African rand was little changed in early trade on Wednesday, as global investors focused on an interest rate decision by the U.S. Federal Reserve later in the day.
At 0650 GMT, the rand traded at 18.22 against the dollar compared with Tuesday’s closing level of 18.19.
The Fed is widely expected to keep rates steady, amid concerns over an economic slowdown due to U.S. President Donald Trump’s tariffs.
News that U.S. and Chinese officials are due to hold talks eased concerns about a trade war that have shaken investor confidence in the dollar and U.S. markets.
No major South African economic data releases are expected on Wednesday.
President Cyril Ramaphosa will launch the second phase of an economic reform drive aimed at lifting the country’s potential growth rate.
Thursday’s data releases include local manufacturing and foreign reserves data.
South Africa’s benchmark 2030 government bond was flat, the yield at 8.92%.
(Reporting by Sfundo Parakozov; Editing by Alexander Winning)
