The rand has see-sawed in a narrow range, with little momentum in either direction, as investors wait for a US Fed policy meeting on Wednesday which is expected to keep lending rates unchanged.
JOHANNESBURG - The rand weakened on Tuesday as an unexpected slowdown in Chinese factory activity dented demand for risk assets, with investors increasingly cautious before local trade and budget data.Locally, a Reuters poll of analysts forecast that March trade data, due at 1200 GMT, would show a R4.8 billion surplus. The Treasury is also due to publish monthly budget figures.
Traders expect liquidity to be tight with local markets closed for the Worker’s Day holiday before picking up in the run-up to national elections on 8 May.
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