(Reporting by Tannur Anders Editing by Alexander Winning)
JOHANNESBURG, May 2 (Reuters) - South Africa's rand was
marginally stronger in early trade on Tuesday, with market
attention this week likely to hinge on local purchasing
managers' index (PMI) surveys and a U.S. Federal Reserve
interest rate meeting.
At 0550 GMT, the rand traded at 18.3725 against the
dollar, around 0.1% stronger than its previous close.
The U.S. currency was last down about 0.1% against a basket
of currencies .
PMI surveys for the manufacturing sector and whole economy
will give investors further insight into the health of Africa's
most industrialised economy.
The Fed is expected to deliver another 25 basis point rate
hike on Wednesday.
Investors will focus on whether the U.S. central bank
indicates that it expects to pause rate increases after May, or
if it keeps alive the possibility of another hike in June or
later.
South Africa's benchmark 2030 government bond was
also slightly stronger in early deals, the yield down 0.5 basis
points to 10.175%.
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