JOHANNESBURG: South Africa's rand is likely to trade in a narrow range on Tuesday as a cautious market awaits consumer inflation data and the central bank's interest rate decision on Wednesday.
The rand was at 9.1790 to the dollar at 0648 GMT, barely changed from Monday's New York close.
Doubts over whether lawmakers in Cyprus would approve a contentious bailout plan that will impose a levy on bank deposits have also kept global markets on edge.
Cyprus's parliament is due to vote on the plan later on Tuesday. The results of the vote could plunge the euro zone into a fresh crisis.
"The market has been pretty tentative ahead of MPC and the CPI this week, as well as the uncertainty with regards to what's happening in the euro zone, specifically around Cyprus," said Brigid Taylor, head of institutional sales at Nedbank.
Taylor expected the rand to remain within the 9.12 to 9.30 range ahead of the monetary policy committee's interest rate decision.
Government bonds were barely changed, with the yield on the 2015 issue flat at 5.405 percent and that on the 2026 paper 1 basis point higher at 7.41 percent.
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