The South African rand was little changed in early trade on Monday, at the start of a week in which central bank interest rate decisions in major global economies are the focus.
At 0635 GMT, the rand traded at 17.9850 against the dollar , just shy of its previous close of 17.9800.Rand Merchant Bank said in a morning briefing that the rand should be weaker than its current level versus the dollar given the greenback's gains and weakness in emerging markets last week.The South African currency will likely take its direction this week from a U.S.
Markets are expecting rate hikes in the U.S. and Europe, after the South African Reserve Bank kept ratesLocal data releases this week include a central bank leading business cycle indicator
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