South Africa's rand traded slightly firmer against the dollar on Thursday ahead of what traders expect to be a hawkish monetary policy statement, although the central bank is likely to keep rates on hold for now.
Rand edges up, market expects hawkish central bank statement
Rand up 0.33 percent at 14.3015 by 0645 GMT, compared with Wednesday's New York close at 14.2810.
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
* Rand up 0.33 percent at 14.3015 by 0645 GMT, compared with Wednesday's New York close at 14.2810.
* Rand second-strongest performer among emerging market currencies tracked by Reuters, behind Turkish lira.
* Reserve Bank rate decision from 1300 GMT, around same time as European Central Bank policy statement.
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* SARB expected to keep benchmark repo rate at 7 percent, according to Reuters poll of 31 economists.
* Blue chip Top-40 futures index ticks up just 0.06 percent, pointing to flat start for bourse.
* Government bonds also flat, with yield on the 2026 benchmark down unchanged from its previous close at 8.79 percent.
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