South African rand edges higher before mining data

JOHANNESBURG: The South African rand edged higher in early trade on Thursday, ahead of the release of local mining output figures.

At 0645 GMT the rand traded at 17.7150 against the dollar , up 0.2% on Wednesday’s close.

Statistics South Africa will publish April mining production numbers, at 0930 GMT.

Production fell 2.8% year-on-year in March, and economists forecast a larger decline this time.

Analysts polled by Reuters expect a 4.3% decline.

South Africa’s benchmark 2035 government bond was slightly weaker in early deals, as the yield rose 1 basis point to 10.11%.