South Africa's rand recovers, stocks set to open higher

Fri May 19, 2017 6:48am GMT
 

JOHANNESBURG May 19 (Reuters) - South Africa's rand recovered against the dollar early on Friday, after sliding nearly 3 percent on Thursday as the political turmoil in the United States triggered an investor flight from riskier emerging currencies into safe-haven assets.

* At 0645 GMT, the rand traded at 13.3000 per dollar, 0.89 percent firmer from its New York close on Thursday.

* Most emerging markets currencies fell on Thursday as uncertainty mounted over U.S. President Donald Trump's future following reports that he tried to interfere with a federal investigation.

* "There has been a slight let up as recoveries were made in equities and risk mildly towards the close yesterday, and into Asia this morning," Standard Bank trader Oliver Alwar wrote in a note.

* Stocks were set to open higher at 0700 GMT, with the JSE securities exchange's Top-40 futures index up 0.38 percent.

* In fixed income, the yield for the benchmark government bond due in 2026 fell 4 basis points to 8.73 percent. (Reporting by Olivia Kumwenda-Mtambo; Editing by Jon Boyle)

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.2795
Euro USD =1.1180
Rand USD =0.0776