UPDATE 1-South Africa's rand steadies but stocks' losing streak runs to four days

Fri Apr 21, 2017 4:40pm GMT
 

* Rand unchanged from its overnight in New York

* Stocks hit 3-week low

* Pioneer falls on collapsed deal

* Govt bonds recover (Adds stocks, quotes and updates levels)

By Nqobile Dludla and Olivia Kumwenda-Mtambo

JOHANNESBURG, April 21 (Reuters) - South Africa's rand steadied against the dollar on Friday as developed market currencies came back in favour, ending a recent rally that has lifted the unit to 3-week high.

Stocks fell for a fourth straight session to a three-week low, as Pioneer Food Group weighed and investors stayed away from risky assets.

At 1530 GMT the rand was trading 13.1500 per dollar, unchanged from its overnight in New York.

The currency hit a 3-week high of 13.1175 to the dollar on Thursday as yield-hungry investors ignored the political fallout and two credit downgrades to "junk" that followed President Jacob Zuma's sudden firing of his finance minister in late March.   Continued...

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UK £ USD =1.2948
Euro USD =1.0895
Rand USD =0.0748