JOHANNESBURG, March 14 (Reuters) - The South African
rand edged up in early trade on Tuesday, ahead of the release of
mining and manufacturing data later in the day.
At 0625 GMT, the rand traded at 18.2000 against the dollar , more than 0.1% firmer than its closing level on
Monday.
Statistics South Africa will publish January mining output around 0930 GMT, and January factory production is due at 1100 GMT.
Economists polled by Reuters are predicting a 2.65%
contraction in annual terms in mining, and a 5.1% fall in
manufacturing. That compares to a 3.5% contraction in mining in
December and a 4.7% fall in manufacturing in December.
The rand rallied on Monday as the dollar fell sharply on
expectations that the largest U.S. bank failure since the 2008
financial crisis would prompt the Federal Reserve to slow the
pace of its interest rate hikes.
On Tuesday, the dollar still languished near a multi-week
low.
South Africa's benchmark 2030 government bond was
also slightly firmer in early deals, with the yield falling 1.5
basis points to 10.010%.
(Reporting by Alexander Winning; Editing by Rashmi Aich)
