(Reporting by Alexander Winning)
JOHANNESBURG, May 3 (Reuters) - The South African rand
advanced in early trade on Wednesday as gloomy jobs data put the
dollar was on the defensive before a Federal Reserve interest
rate announcement that will set the tone for markets globally.
At 0645 GMT, the rand traded at 18.4000 against the dollar , about 0.4% stronger than its closing level on Tuesday.
The dollar was down over 0.1% against six rivals after data showed on Tuesday that U.S. job openings fell for a
third month in March and layoffs increased to the highest in
more than two years.
The Fed is widely expected to raise interest rates by 25
basis points when it concludes a two-day meeting on Wednesday,
with investors looking for signals the U.S. central bank will
pause its rate increases.
No major South African economic data releases is due on
Wednesday, so the rand is likely to reflect moves on overseas
markets.
South Africa's benchmark 2030 government bond was
little changed in early deals, the yield down 0.5 basis points
at 10.190%.
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