JOHANNESBURG, April 12 (Reuters) - South Africa's rand
firmed in early trade on Wednesday, as the dollar weakened ahead
of U.S. inflation data.
At 0653 GMT, the rand traded at 18.3675 against the
dollar, 0.11% stronger than its previous close.
The dollar was down around 0.04% against a basket of global
currencies .
The U.S. consumer price index is expected to show March core
inflation rose 0.4% on a monthly basis and 5.6% year-on-year,
according to a Reuters poll of economists.
"We expect the rand to remain range-bound in the run-up to
the inflation data and track the dollar's moves against the euro
and pound," currency strategist at TreasuryONE, Andre Cilliers,
said in a note.
In the absence of local drivers, the rand takes its cue from
global factors.
The government's benchmark 2030 bond was almost
unchanged in early deals, with the yield at 9.935%.
(Reporting by Anait Miridzhanian;
Editing by Bernadette Baum)
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