South Africa’s rand weakened on Wednesday ahead of trade data, due later in the day, and as the dollar resumed its rally, putting pressure on emerging markets.
* At 0645 GMT, the rand traded at 13.9375 per dollar, 0.4 percent weaker from its New York close on Tuesday.
* The South African Revenue Service releases October trade data at 1200 GMT.
* A six-percent rise in the dollar against a trade-weighted basket of currencies since Donald Trump’s U.S. election victory has hammered emerging markets, as investors pulled money out in favour of U.S. dollar-based assets on bets Trump will boost fiscal spending, growth and inflation.
* Stocks were set to open slightly higher at 0700 GMT, with the JSE securities exchange’s Top-40 futures index up 0.21 percent.
* In fixed income, the yield for the benchmark government bond due in 2026 was flat at 8.99 percent.