South Africa's rand gained nearly two percent early on Monday as emerging markets set aside concerns about a failed coup in Turkey over the weekend and investor focus shifting back to the timing of rate hike in the United States.
Rand bounces as emerging markets shake off Turkey coup worries
The rand trended firmer for most of the previous week as investors globally favoured high yield assets.
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
* Rand at 14.2900 at 0645 GMT, 1.85 percent firmer than New York close. The rand trended firmer for most of the previous week as investors globally favoured high yield assets.
* Risk appetite could drop later in week after strong economic data from United States suggest higher interest rates soon.
* Stocks due to open flat at 0700 GMT, futures index up 0.11 percent.
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* Government bonds softer, yields up 4 basis points to 8.77 percent.
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