JOHANNESBURG, April 18 (Reuters) - The South African
rand strengthened early on Tuesday, reflecting a weaker dollar
on global markets, before the release of a local business
confidence index.
At 0600 GMT, the rand traded at 18.2775 against the U.S.
currency , 0.2% firmer than its previous close.
On Monday the rand also took its cue from the dollar,
falling more than 1.3% as U.S. economic indicators bolstered
expectations that the Federal Reserve would raise interest rates
in May.
The South African Chamber of Commerce and Industry will
release March and February business confidence figures at 0930 GMT, giving more insight into private sector
sentiment in Africa's most industrialised economy.
Crippling power cuts by struggling state power utility Eskom
were a major factor behind a drop in business confidence in
January.
On Wednesday the focus turns to the March consumer price
index , which could affect whether the South African
Reserve Bank hikes interest rates again in May.
(Reporting by Alexander Winning; Editing by Andrew Heavens)
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