South African rand gains as dollar slips; inflation in focus

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South African rand gains as dollar slips; inflation in focus
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The South African rand gained against the dollar in early trade on Monday as the U.S. currency slipped on global markets , with local investors' focus on inflation data this week.

At 0700 GMT, the rand traded at 18.0275 against the dollar, about 0.2% stronger than its closing level on Friday.

There are no major South African economic data releases on Monday, so the rand is likely to track dollar moves. Analysts are looking to the March consumer price index to gauge the success of the South African Reserve Bank's interest rate hikes in taming price pressures.

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