JOHANNESBURG: South Africa's rand edged higher on Monday, lifted by improved risk sentiment globally as fears receded over the impact of US President Donald Trump's trade policies.
Stocks advanced for a third consecutive session mining companies rose along with metals prices. By 1550 GMT, the rand had gained 0.2 percent to 13.3250 per dollar from a close at 13.3500 in New York on Friday.
Trump made no protectionist remarks during talks with Japan over the weekend, boosting demand for emerging-market currencies, while also boosting the dollar.
"The problem is that Trump is good for risk-taking and good for commodities but also good for a hawkish Fed and the dollar," said John Cairns, a currency strategist at Rand Merchant Bank.
"This keeps USD/ZAR confused and without direction." Anglo American was the best performer among blue-chip stocks, rising 2.8 percent to 231.73 rand.
The shares gained as copper prices rallied to a 21-month high, fuelled by a disruption in copper supplies caused partly by a strike at rival BHP Billiton's Escondida mine in Chile.
BHP Billiton shares gained 0.6 percent at 231.04 rand.
Cement producer PPC was in demand after announcing it would merge with rival Afrisam, lifting its shares to a nine-month high.
"In South Africa, PPC is already the dominant player and merging with Afrisam would create an entity with more than 60 percent market share," Afrifocus Securities equity analysts said.
Shares in PPC closed at 7.20 rand, paring its gains to 2.9 percent, after reaching 7.71 rand in earlier trading.
The JSE's benchmark Top-40 index rose 0.4 percent to 45,941 points.
The broader All-share index climbed 0.5 percent to 52,956.
Bonds also gained, with the yield on the benchmark bond due in 2026 falling 4 basis points to 8.73 percent.