At 1556 GMT, the rand traded at 18.3825 against the dollar, 0.58% stronger than its previous close. The dollar index , which measures the currency against six rivals, was last trading down 0.23% at 102.23 following strong gains the previous day. On the Johannesburg Stock Exchange, the Top-40 index closed 1.22% higher, while the broader all-share index closed up 1.14%. "The sustainability of gains in the rand and on the JSE all-share index are likely to be tested in a news-heavy week," Shaun Murison, senior market analyst at IG, told Reuters. Wednesday's release of U.S. inflation data and minutes from March's Federal Open Market Committee meeting may cause short-term market volatility, he added. Meanwhile in South Africa, local manufacturing data released on Tuesday showed a 5.2% drop in annual output for February. South Africa's benchmark 2030 government bond was marginally higher, with the yield down 1 basis point to 9.93%. (Reporting by Tannur Anders and Nellie Peyton Editing by Alexander Winning, Bhargav Acharya and Alex Richardson)
(Updates prices to reflect afternoon trade, adds analyst
comment)
JOHANNESBURG, April 11 (Reuters) - The South African
rand gained against the dollar on Tuesday as the U.S. currency
fell ahead of inflation data, which could provide some clues on
the monetary policy trajectory of the Federal Reserve.
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