(Updates prices to reflect afternoon trade)
JOHANNESBURG, Feb 14 (Reuters) - The South African rand
firmed on Tuesday against the U.S. dollar, which fell to a
roughly two-week low after data showed U.S. inflation rose at
its slowest pace in 16 months.
At 1514 GMT, the rand traded at 17.7800 against the
dollar, about 0.3% stronger than its previous close.
The dollar fell after data showed consumer prices
rose in January but posted their smallest annual rise since
October 2021, affirming expectations the Federal Reserve may be
nearing the end of its monetary policy tightening cycle.
South African inflation and retail sales figures will be published on Wednesday, as well as a
business confidence index from the South African Chamber of
Commerce and Industry.
Economists polled by Reuters expect annual inflation to fall
to 6.9% in January from 7.2% in December, and retail sales to
contract 0.1% in December from growth of 0.4% in November.
The Johannesburg Stock Exchange's All-share index was up 0.11%. Shares in Telkom closed 5.27% higher
after it announced cost cutting measures to shore up profits.
South Africa's benchmark 2030 bond was little
changed, with the yield down 1 basis point at 9.84%.
(Reporting by Alexander Winning and Nellie Peyton; Editing by
Bhargav Acharya and Sandra Maler)
