South Africa's rand was largely unchanged on Wednesday ahead of a central bank decision on interest rates in the United States that investors will watch closely for hints on the future pace of policy easing by the Federal Reserve.
Rand flat in cautious trade ahead of Fed
At 0645 GMT the rand had inched up 0.25 percent to 14.3255, little changed from New York close at 14.3620.
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo
* At 0645 GMT the rand had inched up 0.25 percent to 14.3255, little changed from New York close at 14.3620.
* U.S. Federal Reserve set to keep interest rates unchanged, pushing back any increases until September or December, but hawkish tone on economy could pressure rand.
* Technical analysis suggests currency slightly overbought, seen edging back to 14.4500 support.
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* Blue chip Top-40 futures index up 0.46 percent, indicating bourse will open firmer at 0700 GMT.
* Government bonds extend rally, yield on paper maturing in 2026 sheds 6 basis points to 8.69 percent.
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